Meta dismisses FTC antitrust lawsuit as 'speculation' in latest filing
Facebook parent Meta Platforms Inc. (FB) attempted again to undercut the Federal Trade Commission's antitrust lawsuit against the social media giant with its latest federal court filing Wednesday. "[R]ather than plead facts that could show monopoly power, [FTC] relies on inapposite statistics and admitted assumptions to dress up conclusory speculation," Meta said in a filing. "The FTC still has not identified a single commercial actor, anywhere, that recognizes a [personal social networking services] market as defined, much less tracks PSNS usage in a way that might permit assessment of market shares." The FTC sued then-Facebook for engaging in an illegal "buy or bury" scheme by snapping up rivals Instagram and WhatsApp.
(END) Dow Jones Newswires
December 02, 2021 13:13 ET (18:13 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.