New York attorney general says major news coming as Facebook lawsuit awaited By Reuters


© Reuters. FILE PHOTO: A 3D printed Facebook logo


WASHINGTON (Reuters) -New York Attorney General Letitia James will make a major “business related” announcement on Wednesday afternoon, her office said in a press release.

The announcement came among widespread expectation that a group of state attorneys general will sue social media giant Facebook Inc (NASDAQ:) for violating antitrust law this week.

The U.S. Federal Trade Commission has been probing Facebook, as have state attorneys general. More than 40 are expected to join the lawsuit.

If the lawsuits are filed, Facebook would be the second major tech company sued this year. The Justice Department sued Alphabet (NASDAQ:) Inc’s Google in October.

A spokesman for Facebook declined comment on Wednesday.

In congressional testimony this summer, Facebook Chief Executive Mark Zuckerberg defended much-criticized acquisitions like Instagram and WhatsApp, saying that his social media platform helped them expand from small, insignificant companies into powerhouses. He has also argued that Facebook has a range of competitors, including other tech giants.

Facebook settled a privacy probe with the FTC in 2019, paying $5 billion to resolve allegations that it violated a 2012 consent decree by inappropriately sharing user information with the now-defunct Cambridge Analytica, whose clients included President Donald Trump’s 2016 campaign.

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