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Judge In Federal Antitrust Case Against Facebook Delays Discovery Process: Reuters

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Judge In Federal Antitrust Case Against Facebook Delays Discovery Process: Reuters
  • The U.S antitrust case in the U.S. District Court for the District of Columbia Judge James Boasberg has expressed concerns over Facebook Inc’s (NASDAQ: FB) motion to dismiss the lawsuit and put the discovery process on hold, Reuters reports.
  • Boasberg expected to rule on the motion to dismiss next month.
  • Facebook sought the dismissal of both lawsuits, brought by the Federal Trade Commission and the big group of states challenging their antitrust status eligibility.
  • The FTC and a big group of states had filed separate lawsuits last year for Facebook’s alleged breach of antitrust law by eliminating smaller competitors with rival acquisitions like the 2012 acquisition of Instagram for $1 billion and the 2014 acquisition of WhatsApp for $19 billion.
  • The federal government and states filed five lawsuits against Facebook and Alphabet Inc’s (NASDAQ: GOOGL) (NASDAQ: GOOG) Google last year following bipartisan outrage over their clout both in the economy and the political sphere.
  • Price action: FB shares traded lower by 0.92% at $303.71 on the last check Wednesday.
 

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