US Lawmakers Request FTC To File Antitrust Lawsuit On Facebook: Reuters

July 2, 2021 2:54 PM | 1 min read |

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.