TECH - Mark Zuckerberg's Meta Withheld Key Details In Instagram And WhatsApp Acquisitions FTC Claims | Benzinga
Meta Platforms Inc (NASDAQ:META) is under fire for allegedly withholding information from federal regulators during the reviews of its acquisitions of Instagram and WhatsApp, according to a recent court filing by the U.S. Federal Trade Commission (FTC).
The FTC is pushing to dismantle the social media conglomerate through an ongoing lawsuit, Bloomberg reported.
Meta, previously known as Facebook, led by Mark Zuckerberg, acquired Instagram in 2012 and WhatsApp in 2014. The FTC examined both deals at the time, Instagram through a thorough review and WhatsApp via a brief 30-day check.
However, the agency has since been criticized for approving these transactions, leading to a 2020 lawsuit alleging that Meta monopolized the social networking market by buying emerging competitors.
In its latest filing, the FTC claims that Meta withheld crucial ...