The Federal Trade Commission (FTC) is considering bringing Mark Zuckerberg (Facebook CEO) and Sheryl Sandberg (Facebook COO) for testimony. It would be held in order to investigate possible monopoly practices by part of the social network. This news comes from the Wall Street Journal. Also Read - Facebook brings Oculus Quest 2 VR headset with 90Hz refresh rate for $299
The depositions are said to be part of a year-long investigation by the agency. This is to determine whether the social media giant is violating competition regulations and engaging in monopoly practices, the cited source said, citing anonymous sources. Also Read - Facebook Messenger launches 'Watch Together' feature: All you need to know
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The U.S. FTC suspect Facebook for violation of antitrust law
As per Daily Business, Facebook’s top executives are preparing for such an eventuality. Elected officials will question Facebook founder and CEO along with three other heads of the country’s largest tech companies. These include Sundar Pichai (Alphabet, Google’s parent company), Tim Cook (Apple), and Jeff Bezos (Amazon). Also Read - Facebook launches 'Facebook Campus' for college students
Facebook has been under the sight of the Federal Trade Commission (FTC), the Department of Justice (DOJ), and the Judicial Committee of the US House of Representatives, for investigation of practices that infringe antitrust law and violation of privacy for some years.
It all came around when the company was found involved in a massive data breach through Cambridge Analytica. The same data was also apparently used for the presidential elections, where Donald Trump was the winner. Some reports indicate that Facebook and Google carried out monopolistic practices. According to estimates, the two companies control almost 60 percent of the Internet advertising market.
“We look forward to sharing our perspective on the subject of competition, along with other leaders in the tech industry, during the congressional hearing this month. While demonstrating to regulatory agencies that our innovations give consumers more choice,” a Facebook spokesperson told AFP. Regarding this new investigation, the FTC has made no confirmations in this regard, Reuters reports.