What happened : More than 45 state prosecutors along with US federal regulators have sued Facebook, blaming the social media giants of taking illegitimate actions to buy up competitors and stifle competition. In recent years Facebook has bought some major social media platforms including Instagram and Whatsapp, and this was the cause of growing concern about their domination over the industry. According to New York Attorney General Letitia James, who is leading this legal fight,” For nearly a decade, Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition, and no company should have this much unchecked power over our personal interaction and social interactions.”. In response to the legal actions, Facebook argued that they had bought different platforms when they were much smaller, and it is because of their support that those platforms are now a huge success. However, there will be ample opportunity for appeals, so it is not expected that a breakup of Facebook will happen very soon.
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