Latin America's largest airline files for US bankruptcy

 

 

The Federal Trade Commission (FTC) filed an extension to its lawsuit against Facebook, in which it accuses the social media giant of illegally buying innovative competitors and then removing them from the market and thus consolidating its monopoly.

 The FTC filed its lawsuit on August 19 in the District of Columbia Court, following the June 28 court ruling that dismissed the FTC's initial complaint against Facebook for lack of evidence.

 In its initial complaint, the FTC tried unsuccessfully to explain how Facebook managed to acquire more than 60 percent of the social media market using illegal strategies. After the judge dismissed the case in June, the FTC was granted an extension of time to resubmit the lawsuit.

 The new amendment argues that the social media giant dominates the market in the United States including additional data and evidence intended to support the claim that the app is a clear example of a monopoly.