Memphis Daily News Chandler Reports Nashville Ledger
» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 43 | NO. 22 | Friday, May 31, 2019

Report: FTC to lead possible Facebook antitrust probe

Print | Front Page | Email this story

SAN FRANCISCO (AP) — Facebook's stock is plunging following a Wall Street Journal is report that the Federal Trade Commission will lead any antitrust investigation into the company as part of an arrangement that would give the Justice Department oversight of Google.

The FTC and the Justice Department oversee antitrust issues in the U.S. and must establish who will take the lead in different investigations. Citing unnamed sources The Journal said Monday that the FTC secured the rights to begin a potential investigation into whether Facebook engaged in what it called "unlawful monopolistic behavior."

The report Monday said the Justice Department, in turn, will lead the Google probe.

The FTC is already investigating Facebook for possible privacy violations . The FTC declined to comment and Facebook did not immediately respond to a message for comment. Facebook has set aside $3 billion for a possible fine for that investigation and said it could be as high as $5 billion.

Shares of Menlo Park, California-based Facebook fell $15.43, or 8.7%, to $162.05 on Monday.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0