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FTC’s Facebook Antitrust Complaint Dismissed in District Court
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thewrap.comthe case to be thrown out, claiming the FTC failed to prove the company has harmed consumers or that it’s built a social media monopoly.On Monday, the court sided with Facebook, although it did say the FTC was allowed to file an amended complaint. “Whatever it may mean to the public, ‘monopoly power’ is a term of art under federal law with a precise economic meaning: the power to profitably raise prices or exclude competition in a properly defined market,” the filing said. “To merely allege that a defendant firm has somewhere over 60% share of an unusual, nonintuitive product market — the confines of which are only somewhat fleshed out and the players within which remain almost entirely unspecified — is not enough.
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