The Federal Trade Commission sued to break up Facebook on Wednesday, asking a federal court to force the sell-off of assets such as Instagram and WhatsApp as independent businesses.
Why is the government trying to break up Facebook?
On Wednesday, the Federal Trade Commission filed a lawsuit against Facebook alleging that the company had engaged in illegal anti-competitive behaviors to sustain a social media monopoly.
Why is Facebook being sued by the US government and 46 states?
(FB) is becoming a social media monopoly. In December 2020, the Federal Trade Commission (FTC) and 46 states sued Facebook, accusing the firm of buying up competitors—chiefly WhatsApp and Instagram—to liquidate competition in the social media industry.
Are 48 states trying to break up Facebook?
The landmark antitrust lawsuits, announced by the Federal Trade Commission and New York Attorney General Letitia James, mark the second major government offensive this year against seemingly untouchable tech behemoths. …
Will Facebook ever be broken up?
If Facebook were to be broken up, it would be incredibly rare and would probably take many years and long legal battles. … But Facebook’s greatest asset is the data it has on billions of people. There has never been a major breakup of a company trading in data.
Will the government break up Facebook?
Don’t bet on it. Antitrust experts and Wall Street analysts say the U.S. faces long odds in its battle with Facebook, predicting that a breakup of the world’s largest social media company is highly unlikely. Investors seem to agree. Facebook shares have gained 4% since the government sharpened its case last week.
What are the 46 states suing Facebook?
Forty-eight attorneys general across 46 states, the territory of Guam and the District of Columbia are behind the lawsuit, with only South Dakota, South Carolina, Alabama and Georgia declining to join.
Can I sue Facebook for blocking me?
Yes you can sue.
What states are not in the Facebook lawsuit?
The states’ lawsuit against Facebook involves D.C., Guam and every U.S. state except Alabama, Georgia, South Carolina and South Dakota — all four of which are led by Republican attorneys general.
What states did not join the Facebook lawsuit?
The state suit was signed by attorneys general from 46 states and the District of Columbia and Guam. Alabama, Georgia, South Carolina and South Dakota did not join the case. Facebook asked the court to dismiss both suits in March.
What would happen if Facebook was broken up?
Breaking up Facebook would likely be a 10-year process, and the social networking world might look very different in 2031. … For its part, Facebook says that it deeply integrated its acquisitions long ago—for instance, by running them in its data centers and incorporating Instagram into its ad platform.