FTC sues Facebook in antitrust lawsuit as regulators mount offensive
Regulators around the globe are increasingly turning hostile to the social media behemoth. The United States Federal Trade Commission has filed a lawsuit against Facebook Inc., where it alleges that the corporation has been engaging in anti-competitive practices ever since acquiring a dominant global position at the turn of the 2010s.According to public case files released on Wednesday, the regulator believes that Facebook has systematically purchased or reproduced the features of any social media competitor that could have posed a threat to the company’s dominance. The lawsuit cites the....
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The era of tech giants buying up their up-and-coming competitors will be over if these senators get their way. The Senate sees new legislation aiming to update antitrust laws for new technologies.Senator and former candidate for the Democratic presidential nomination Amy Klobuchar is introducing the Competition and Antitrust Law Enforcement Reform Act today, Cointelegraph has learned.Sen. Klobuchar, who heads the Senate Antitrust Subcommittee, is looking to put new burdens on companies seeking to acquire competitors. An announcement of the bill noted that it aims to "Shift the burden to....
Nike has filed a lawsuit against an online reseller using unauthorized Nike shoe images in non-fungible tokens (NFTs). “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks,” Nike alleges. Nike Sues Online Retailer Over NFT Sales Sneaker giant Nike filed a lawsuit against online reseller Stockx in New York federal court last week for selling non-fungible tokens (NFTs) using unauthorized images of Nike shoes. Detroit-based Stockx, valued at more than $3.8 billion....
Regulators in Italy have moved to suspend the operations of several affiliates of OneCoin, the digital currency investment scheme widely accused of being fraudulent. Late last month, the Italian Antitrust Authority, a quasi-autonomous non-governmental organization that focuses on consumer protection, said that it had ordered the "precautionary suspension" of the efforts, led by three unnamed individuals. The Antitrust Authority is funded by Italy’s Ministry of Economic Development. The Antitrust Authority said that its investigation of OneCoin – which accelerated in December with....
Terra has been the target of a second class action lawsuit, and more legal action is likely to be brought against the struggling stablecoin company in the near future. A Slew Of Lawsuits Against Terra On Sunday, Bragar Eagel & Squire issued a press statement announcing their plans to bring a lawsuit against Terra. The […]
The author of “Goliath” gives his take on the history of American antitrust politics and what it means for the just-announced Google case.