- A bipartisan group of U.S. lawmakers pleaded the Federal Trade Commission to press with a lawsuit against Facebook Inc FB, Reuters reports based on a Senator Amy Klobuchar's office statement.
- Klobuchar, Senator Mike Lee, and Representatives David Cicilline and Ken Buck commended the FTC to "pursue enforcement action against Facebook."
- Klobuchar and Cicilline are Democrats, while Lee and Buck are Republicans. They held high positions on congressional antitrust panels.
- Judge James Boasberg of the U.S. District Court for Columbia dismissed the antitrust complaint, citing FTC's failure to prove Facebook's monopoly.
- The antitrust complaints by the FTC and multiple states sought to force Facebook to sell Instagram and WhatsApp.
- Price action: FB shares traded lower by 0.20% at $353.69 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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