Meta Faces Landmark Antitrust Lawsuit Over Acquisitions
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Meta (formerly Facebook) faces a landmark antitrust lawsuit alleging it illegally maintained its social media dominance through a 'buy or bury' strategy by acquiring Instagram and WhatsApp. The FTC argues Meta violated antitrust laws by acquiring nascent competitors to stifle competition, seeking divestiture of Instagram and WhatsApp. Meta counters that it faces ample competition and that the acquisitions were approved initially. The case, currently before a US District Court judge, will test the application of antitrust law to such acquisition strategies.
Meta (formerly Facebook) faces a landmark antitrust lawsuit alleging it illegally maintained its social media dominance through a 'buy or bury' strategy by acquiring Instagram and WhatsApp. The FTC argues Meta violated antitrust laws by acquiring nascent competitors to stifle competition, seeking divestiture of Instagram and WhatsApp. Meta counters that it faces ample competition and that the acquisitions were approved initially. The case, currently before a US District Court judge, will test the application of antitrust law to such acquisition strategies.
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