Meta Pleads With Judge To Dismiss FTC's Antitrust Case in High-Stakes Trial

Meta Platforms Inc. (NASDAQ:META) urged a federal judge to dismiss the significant antitrust case filed by the Federal Trade Commission (FTC) during an ongoing trial that could potentially lead to the breakup of the tech behemoth.

What Happened: Meta has requested the court to dismiss the FTC’s antitrust case. The FTC has contended that Meta unlawfully dominates the social media market, particularly those apps that rely on friends-and-family connections.

Meta has refuted these allegations in a court filing, arguing that the FTC’s attorneys have inaccurately defined the market. The company maintains that it faces robust competition from platforms like TikTok, YouTube, and Elon Musk’s X, reports The New York Post.

“After five weeks of trial, it is clear that the FTC has failed to meet the legal standard required under antitrust law,” a Meta spokesperson stated on Friday. The company intends to present its case, underlining that Instagram competes with other popular apps like TikTok, YouTube, and X.

Also Read: Zuckerberg Foresees Tech Industry Revolution With AI: ‘An AI That Can Effectively Be a Sort of Midlevel Engineer’

The FTC’s case is predicated on the argument that Meta acquired Instagram and WhatsApp as part of a “buy or bury” strategy to prevent them from threatening its empire. The FTC is seeking to persuade US District Judge James Boasberg to compel Zuckerberg to spin off the two apps.

The nonjury trial is anticipated to conclude in June, followed by final briefs filed by both FTC and Meta. If Judge Boasberg sides with the FTC and determines Meta has a monopoly, a second trial will be held to determine appropriate remedies.

Why It Matters: This trial is of significant importance as it could potentially reshape the tech industry and set a precedent for future antitrust cases. The outcome of this case could influence how tech giants operate and acquire smaller companies.

Furthermore, it could also impact the competitive landscape of the social media market. The FTC’s push for Meta to spin off Instagram and WhatsApp indicates a broader regulatory effort to curb the power of tech giants.

This case is being closely watched by industry stakeholders, regulators, and consumers alike.

Mark Zuckerberg Is ‘Kind Of Creepy And Controlling' – This Is What Meta's New AI Chatbot Says About Its Boss

Image: Shutterstock/Skorzewiak