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FTC gearing up for possible antitrust suit against Facebook, reports say

FTC gearing up for possible antitrust suit against Facebook, reports say
Posted at 7:50 PM, Sep 15, 2020
and last updated 2020-09-16 01:28:32-04

Several media outlets are reporting that the Federal Trade Commission is gearing up for a possible antitrust lawsuit against Facebook.

According to the Wall Street Journal, the FTC has investigated Facebook for more than a year over concerns the social media gobbled up its competition.

In July, CEO Mark Zuckerberg testified in a House Judiciary Committee hearing if his company violated antitrust laws when it acquired Instagram and WhatsApp.

In June 2019, the FTC leveled a $5 billion penalty against the company for privacy violations, Bloomberg reported.

In Nov. 2011, Facebook settled with the FTC over charges it deceived consumers.