Louisiana Attorney General Jeff Landry on Wednesday joined a bipartisan coalition of 48 attorneys general in filing a lawsuit against Facebook Inc., alleging that the company has and continues to illegally stifle competition to protect its monopoly power.
The lawsuit alleges that, over the last decade, the social networking giant illegally acquired competitors in a predatory manner and cut services to smaller threats, depriving users from the benefits of competition and reducing privacy protections and services along the way – all in an effort to boost its bottom line through increased advertising revenue.
”Facebook has thwarted competition and reduced consumer privacy to increase their profits,” said AG Jeff Landry. “This big tech giant has leveraged their monopolist power to extract more lucrative advertising fees while consistency undermining and abusing user trust.”