Today, Facebook confirmed during its Q2 earnings call and in its quarterly report that the Federal Trade Commission notified the company in June that the agency has opened an antitrust investigation into Facebook. An FTC investigation means there is particular conduct by the company that the agency is interested in, and that the agency is examining that conduct to determine if it violates antitrust law.
The following can be attributed to Charlotte Slaiman, Competition Policy Counsel at Public Knowledge:
“Today, we learned that the FTC is currently investigating Facebook’s conduct for whether it may or may not be violating antitrust law. Unlike other recent stories about a broad antitrust review into digital platforms generally, this is a concrete step that indicates the agency has begun a standard investigation process for Facebook’s conduct.
“If the FTC finds a violation of the antitrust laws, we expect the agency to take quick action to impose an appropriate remedy. Whether or not that is the result of this specific investigation, we still need comprehensive platform legislation to fully address the competitive problems in this space. It’s important that the Congressional investigation into competition in digital platforms continues to be a focus of attention to ensure that all competitive concerns are being addressed.”
For more information on antitrust law, read “Decoding Antitrust Law: A Primer for Advocates.” To learn more about how Public Knowledge thinks Big Tech should be regulated, please view “The Case for the Digital Platform Act.”