• Thu. Dec 1st, 2022



FTC Could File Facebook Antitrust Charges By End of This Year: Report

The Federal Trade Commission is readying a possible antitrust case against Facebook  (FB) – Get Report, and may file charges in the next few months, says a new report.

The agency has spent more than a year investigating Facebook on antitrust grounds, but no final decision has been reached on whether to sue the company, the WSJ reported. The probe of Facebook is part of a broader investigation of market-leading Internet firms initiated by the FTC and a collection of other state and federal offices. 

Facebook shares dropped 2.7% in after-hours trading following the report. 

Sources told the WSJ that the FTC interviewed Facebook CEO Mark Zuckerberg in the course of the investigation, and that charges could be filed by the end of this year. The lawsuit needs to pass muster with the FTC’s five-member commission, which will vote on whether or not to file charges. 

Past reports suggested that investigators were honing in on Facebook’s long track record of copying, or acquiring, smaller apps that were perceived as a threat to the social media giant.

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