Facebook Inc. (FB.O) said the social media company is being investigated by the Federal Trade Commission for possible antitrust violations.
Just hours after Facebook announced a settlement with the FTC to end a probe into the company’s privacy practices, the social giant confirmed in a statement that the agency has also opened an antitrust investigation. Facebook was alerted to the investigation in June, and disclosed it to investors Wednesday when it announced quarterly earnings.
It was previously known that the FTC was exploring whether Facebook’s business violated antitrust laws, but this is the first time the company has confirmed a formal investigation. The FTC and Department of Justice divvied up the biggest tech companies for antitrust purposes last month, with the FTC taking Facebook and Amazon.com Inc. and the DOJ taking Alphabet Inc. and Apple Inc.
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