Meta to face trial for anti-competitive acquisitions

Meta Platforms is headed to trial following a recent ruling in a US Federal Trade Commission (FTC) lawsuit.

On Wednesday, a Washington judge confirmed the case, targeting Meta’s alleged anti-competitive acquisitions, will advance.

The FTC initiated the lawsuit against Meta in 2020. It alleges that the company maintained a monopoly on social media by acquiring Instagram in 2012 and WhatsApp in 2014.

According to the FTC, Meta overpaid to squash potential competition rather than compete directly in the mobile space.

Recent Meta developments

Timeline
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31-Oct-2024 📉 Meta’s AI cost spike impacts Asian chip markets Asian markets decline, chip sector hit hard Yen near 3-month low amid Japan’s political issues
30-Oct-2024 ⚠️ Meta finds MY’s social media licensing plan lacks clarity Meta raises concerns over Malaysia’s regulatory plan New licence required for platforms by January 2025
29-Oct-2024 📰 Meta launches AI search to rival Google Meta developing AI search engine for news Improved location data to rival Google Maps
28-Oct-2024 📰 Meta teams with Reuters for AI-driven news delivery Meta partners with Reuters for news updates Meta AI to use Reuters content for real-time news

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