May 1, 2023
A federal appeals court has upheld the dismissal of an antitrust suit against Meta, the social media giant that owns Facebook, Instagram, and WhatsApp.
The case was brought by 48 U.S. states and territories over Meta’s acquisitions of WhatsApp and Instagram. The decision is a significant win for Meta, which is developing a track record of winning antitrust cases in the U.S., despite ongoing challenges in court and from regulators both domestically and abroad.
The court ruled that the states waited too long to file the suit and were aware of the acquisitions when they were happening. This points to a tough road ahead for the Federal Trade Commission (FTC), which has an ongoing case against Meta. The FTC has alleged that Facebook’s two acquisitions a decade ago were anti-competitive. However, Meta also prevailed against the FTC in February in its attempt to acquire virtual reality fitness company Within.
Meta’s spokesperson stated that the court noted the “rapid growth and innovation with no end in sight” in the industry and called the enforcement action “odd.” Meta plans to defend itself vigorously against the FTC’s “distortion of antitrust laws” and attacks on an American success story that are contrary to the interests of people and businesses who value its services.
The sources for this piece include an article in Axios.
