Facebook May See US Antitrust Fees As early as November: Report

Facebook could face US antitrust allegations as early as November, the Washington Post reported on Friday, citing four people familiar with the matter.

The Federal Trade Commission met privately on Thursday to discuss an investigation while attorneys general led by New York City’s Letitia James were investigating the company for potential competition threats, the newspaper reported.

The schedule could still change, the newspaper said, adding that attorneys general are at a late stage in preparing their complaint.

Facebook, the FTC, and the New York Attorney General’s office were not immediately available for comment late Friday.

Facebook said in August that board chairman Mark Zuckerberg was interviewed at an FTC hearing as part of the government’s antitrust investigation into the company.

Facebook faced similar investigations by the Department of Justice and the Attorneys General, previously saying the investigation looked at previous acquisitions and business practices involving “social networking or social media services, digital advertising and / or mobile or online applications.”

In July 2019, Facebook agreed to pay a record $ 5 billion (roughly Rs 36,917 million) fine to conduct a separate FTC investigation into the company’s privacy practices.

© Thomson Reuters 2020


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