0
(Last Updated On: August 21, 2020)

Facebook executives said that they have been answering questions asked by the US Federal Trade Commission as it is on a quest to find antitrust facts.

The social networking company’s CEO, Mark Zuckerberg had talked to the FTC over a period of two days, under oath.

“We are committed to cooperating with the US Federal Trade Commission’s inquiry and answering the questions the agency may have,” a spokesperson from Facebook said.

These investigations led by FTC do not always end up going through with a lawsuit.

A month ago, tech giant CEO’s such as Mark Zuckerberg, Tim Cook, Jeff Bezos and Google were questioned for over 5 hours in a video call presented in front of a House of Representatives panel that was looking into market dominance.

The US congressional antitrust committee head said that the companies have too much power and are more likely to come out on the other side of the pandemic even more powerful.

David Cicilline, the House Judiciary Antitrust subcommittee chair said, “simply put, they have too much power.” 

“Whether it’s through self-preferencing, predatory pricing, or requiring users to buy additional products, the dominant platforms have wielded their power in destructive, harmful ways in order to expand,” he said.


Like it? Share with your friends!

0
NEWS Desk

Newbie

0 Comments

Leave a Reply

Send this to a friend