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FACEBOOK INC

(FB)
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Judge grants U.S. FTC more time to file amended complaint against Facebook

07/23/2021 | 06:56pm EDT
FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration

(Reuters) -A U.S. judge on Friday gave the U.S. Federal Trade Commission until Aug. 19 to file an amended complaint in its antitrust lawsuit against Facebook Inc, an extension of three weeks from the previous deadline.

Judge James Boasberg of the U.S. District Court for the District of Columbia granted the FTC's request for the extension, which was not opposed by Facebook.

"Plaintiff shall file an amended complaint by August 19, 2021," Boasberg said in his order, adding that Facebook should respond to the mended complaint by Oct. 4.

Boasberg had earlier said the FTC's initial complaint failed to show that Facebook had monopoly power in the social networking market but said the FTC could file a new complaint by July 29.

"The requested extension will provide sufficient time for plaintiff to complete internal agency processes with respect to filing an amended complaint," the FTC said in its filing.

Facebook declined comment.

The agency voted 3-2 last year to file the lawsuit against Facebook. The chair at the time, Joe Simons, a Republican, voted for the lawsuit. Since then, the agency chair changed to Lina Khan, a Democrat. Facebook has asked for her to be recused because of her prior work with a congressional panel.

(Reporting by Elizabeth Culliford and Diane Bartz; Editing by Leslie Adler and Grant McCool)


ę Reuters 2021
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Analyst Recommendations on FACEBOOK INC
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Financials (USD)
Sales 2021 120 B - -
Net income 2021 40 634 M - -
Net cash 2021 79 290 M - -
P/E ratio 2021 24,5x
Yield 2021 -
Capitalization 975 B 975 B -
EV / Sales 2021 7,50x
EV / Sales 2022 6,07x
Nbr of Employees 63 404
Free-Float 84,0%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 49
Last Close Price 345,96 $
Average target price 416,29 $
Spread / Average Target 20,3%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
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