BREAKING: Justice Department opens sweeping antitrust review of major technology companies.
FILE - In this April 10, 2018, file photo Facebook CEO Mark Zuckerberg takes his seat to testify before a joint hearing of the Commerce and Judiciary Committees on Capitol Hill in Washington. The Washington Post reported on Tuesday, July 23, 2019, that the Federal Trade Commission will allege that Facebook misled users about its privacy practices as part of an expected settlement.
The probe announced Tuesday will include an examination into whether powerful companies such as Apple, Facebook, Google and Amazon have been stifling innovation and competition.An antitrust expert believes a Justice Department investigation into whether major technology companies are abusing their market power may prompt regulators to interpret the law in new ways.
Traditionally, antitrust regulators have only sought to block acquisitions involving two big companies. But Hovenkamp says U.S. antitrust law is broad enough for regulators to consider the potential damage wrought by relatively small deals too.Major tech companies facing congressional antitrust scrutiny have no comment on the Justice Department’s just announced probe.
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