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Criteo Files Complaint Against Facebook With French Competition Authority

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Criteo Files Complaint Against Facebook With French Competition Authority

Advertising platform Criteo SA (NASDAQ: CRTO) filed a complaint against Facebook, Inc.(NASDAQ: FB) Sept. 10 with the French Competition Authority, the company said Tuesday. 

The gradual exclusion of companies from the Facebook platform has adversely impacted the diversity of the online advertising industry, Criteo said. 

This is not the first complaint filed against the social media giant in connection with its online advertising methods.

Last year, a group of small advertisers filed a lawsuit in California federal court alleging that Facebook had engaged in unfair business conduct by disseminating inaccurate metrics that significantly overestimated the amount of time users were spending watching video ads, The Wall Street Journal reported. 

At the time, Facebook said the lawsuit is without merit.

Benzinga has contacted Facebook for comment on Criteo’s allegations.

In September, France and Germany both agreed to block Facebook’s Libra cryptocurrency.

In a joint statement, the two governments said “no private entity can claim monetary power, which is inherent to the sovereignty of nations.”

Facebook shares were falling by 0.92% to $176.43 at the time of publication. The stock has a 52-week range between $208.66 and $123.02.

Related Link:

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Posted-In: advertising social media The Wall Street JournalCryptocurrency News Eurozone Markets Media Best of Benzinga

 

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