tiprankstipranks
Meta faces trial over purchase of Instagram, WhatsApp, Reuters says
The Fly

Meta faces trial over purchase of Instagram, WhatsApp, Reuters says

Meta Platforms (META) will face a trial in April over the U.S. Federal Trade Commission’s, FTC, allegations that the platform bought Instagram and WhatsApp to crush its emerging competition, Jody Godoy of Reuters reports, citing a Washington judge. In 2020, the FTC sued the company, alleging it acted illegally to maintain a monopoly on personal social networks. The FTC claims Meta overpaid for Instagram and WhatsApp to eliminate new threats instead of competing on its own in the mobile ecosystem. The trial has been set for April 14.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App