Facebook parent Meta Platforms Inc. (NAS:FB) attempted again to undercut the Federal Trade Commission's antitrust lawsuit against the social media giant with its latest federal court filing Wednesday. "[R]ather than plead facts that could show monopoly power, [FTC] relies on inapposite statistics and admitted assumptions to dress up conclusory speculation," Meta said in a filing. "The FTC still has not identified a single commercial actor, anywhere, that recognizes a [personal social networking services] market as defined, much less tracks PSNS usage in a way that might permit assessment of market shares." The FTC sued then-Facebook for engaging in an illegal "buy or bury" scheme by snapping up rivals Instagram and WhatsApp.
Dec. 2, 2021, 1:13 p.m. EST