Attorney General Aaron M. Frey today joined a bipartisan coalition of 48 Attorneys General in 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 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 according to a press release issued by Attorney General Frey’s office.
“Free and fair competition is a bedrock principle of the American economy,” said Frey. “Consumers are negatively impacted when companies like Facebook illegally stifle competition, reduce privacy protections and diminish the quality of services.”
The lawsuit was filed in US District Court for the District of Columbia and led by the New York State Attorney General.