Facebook confirms new FTC antitrust investigation after posting strong earnings
Facebook’s business continues to grow, largely unimpeded by the various privacy settlements, corporate scandals, and regulatory concerns over its handling of user data and other reckless practices. Yet the company announced today, as part of its second quarter earnings announcement, that the Federal Trade Commission is now officially investigating Facebook for potential violations of US antitrust law.
“The online technology industry and our company have received increased regulatory scrutiny in the past quarter. In June 2019, we were informed by the FTC that it had opened an antitrust investigation of our company,” reads the company’s earnings release. “In addition, in July 2019, the Department of Justice announced that it will begin an...