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Meta Platforms (META) is going to federal court today for a long-awaited antitrust trial that will force the tech giant to defend its acquisitions of Instagram and WhatsApp. Meta stock was ahead slightly in early trading.
The $1.4 trillion market cap social media titan is accused by the Federal Trade Commission of abusing monopoly power to acquire photo-sharing app Instagram and messaging platform WhatsApp more than a decade ago. The FTC filed the original antitrust lawsuit in 2020 before it spent nearly five years winding through appeals and other motions in the courts.
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