Because a Federal court has determined that the antitrust watchdog, the Federal Trade Commission (FTC), may continue with the lawsuit against the social media behemoth, Meta’s motion for a dismissal of the updated antitrust action filed the FTC against it has been denied.
The Federal Trade Commission (FTC), a US agency responsible for enforcing civil antitrust laws in the United States and promoting consumer protection, alleged in a revised complaint filed in August 2021 that Meta Inc, formerly Facebook Inc, had pursued a “buy or bury” strategy against competitors to suppress competition.
As previously reported, the Federal Trade Commission (FTC) will be pursuing an antitrust lawsuit against Meta for the second time. The FTC and a coalition of attorneys general previously filed an antitrust lawsuit against Meta, later dismissed by the United States District Court. A federal court rejected the case in June 2021 because it lacked merit, according to James Boasberg. Because the agency had not provided enough evidence to show that the former Facebook Inc. had a monopoly on social media or that the company had misused its position and influence by impeding competition, the court dismissed the case.
The Federal Trade Commission upheld its assertions that the corporation obtained monopolistic strength via acquisitions, which the agency has referred to as a “buy-or-bury” business approach. But he ruled that Facebook did not break antitrust rules by excluding third parties from its platform, despite the agency claiming it had.