A total of 48 states' attorneys general came together to file a lawsuit against Facebook on Wednesday. The team led by New York's Letitia James said that the social media platform Facebook stifles competition to protect its Monopoly power.
This happened the same day as the Federal Trade Commission said that another suit will be filed against Facebook for indulging in anti-competitive practices.
"For nearly a decade, Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition, all at the expense of everyday users," said Attorney General Letitia James. They are going to stand up for all the users. There are millions of consumers and multiple businesses that were harmed by Facebook’s illegal practices in all these years.
James continued by saying that all this time Facebook has used its power to curb the competition and took advantage of their users to ensure their own profits. Now most of the states in the US have joined hands to end Facebook’s illegal practices that were harmful to the users.
The other lawsuit that was filed against Facebook was by FTC. Under this, the social media network was accused of using illegal methods to maintain its monopoly.
"Personal social networking is central to the lives of millions of Americans. Facebook’s actions to entrench and maintain its monopoly deny consumers the benefits of competition. Our aim is to roll back Facebook’s anticompetitive conduct and restore competition so that innovation and free competition can thrive,” said Ian Conner, the director of the FTC’s Bureau of Competition.