Lawsuit Against Facebook
Hartford, CT -- Attorney General William Tong today joined a bipartisan coalition of 48 attorneys general filing a lawsuit against Facebook Inc., alleging that the company has and continues today to illegally stifle competition to protect its monopoly power. The lawsuit alleges that, over the last decade, the social networking giant illegally acquired competitors in a predatory manner and cut services to smaller competitive threats, depriving users from the benefits of competition and reducing privacy protections and services along the way — all in an effort to boost its bottom line through increased advertising revenue. “Facebook has used its market power and trove of consumer data to unlawfully acquire and squash its competition. Their exclusionary and predatory conduct suffocates innovation, and…