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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook, Inc.    FB

FACEBOOK, INC.

(FB)
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U.S. government, states ask judge to deny Facebook's request to dismiss lawsuits

04/08/2021 | 05:38am EDT
FILE PHOTO: The Facebook logo is displayed on a mobile phone

WASHINGTON (Reuters) - The Federal Trade Commission and a big group of U.S. states asked a federal court on Wednesday to deny Facebook Inc's request to dismiss major antitrust lawsuits filed against the social media giant in December.

The FTC, in its filing, said Facebook bought photo-sharing app Instagram because Chief Executive Mark Zuckerberg believed it was "a large and viable competitor" and purchased the messaging app WhatsApp to neutralize a nascent threat. The FTC has asked the court to order Facebook to sell those assets.

The states, which had filed a separate antitrust lawsuit against Facebook, said in its filing: "Deploying a buy-or-bury scheme of predatory acquisitions and exclusionary conduct, Facebook successfully squashes, suppresses, and deters competition, entrenching its monopoly power to this day."

Facebook had asked the court to dismiss the two lawsuits, alleging that they were brought "in the fraught environment of relentless criticism of Facebook for matters entirely unrelated to antitrust concerns."

It also said that the states, in their case, failed to show that they were harmed by Facebook and that they waited too long.

The FTC and states accused Facebook of breaking antitrust law to keep smaller competitors at bay and snapping up rivals, like Instagram for $1 billion in 2012 and WhatsApp in 2014 for $19 billion.

All told, the federal government and states filed five lawsuits against Facebook and Alphabet Inc's Google last year following bipartisan outrage over use and misuse of social media clout both in the economy and the political sphere.

(Reporting by Diane Bartz; Editing by Peter Cooney)


© Reuters 2021
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Financials (USD)
Sales 2021 108 B - -
Net income 2021 32 582 M - -
Net cash 2021 78 317 M - -
P/E ratio 2021 26,9x
Yield 2021 -
Capitalization 860 B 860 B -
EV / Sales 2021 7,26x
EV / Sales 2022 5,87x
Nbr of Employees 58 604
Free-Float 83,9%
Chart FACEBOOK, INC.
Duration : Period :
Facebook, Inc. Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 52
Average target price 337,14 $
Last Close Price 302,82 $
Spread / Highest target 27,1%
Spread / Average Target 11,3%
Spread / Lowest Target -27,3%
EPS Revisions
Managers and Directors
NameTitle
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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