04:39:37 EDT Tue 01 Jul 2025
Enter Symbol
or Name
USA
CA



Amazon.com CDR (CAD Hedged)
Symbol AMZN
Shares Issued 31,500,000
Close 2025-04-16 C$ 20.59
Market Cap C$ 648,585,000
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FP/wire say Meta trial has implications for Big Tech

2025-04-16 08:02 ET - In the News

See In the News (C-META) Meta CDR (CAD Hedged)

The Financial Post reports in its Wednesday, April 16, edition that a major antitrust trial that could reshape how the United States' Big Tech firms operate began Monday, with Mark Zuckerberg's Meta accused of using a "buy or bury" strategy to eliminate potential rivals. A Bloomberg dispatch to the Post reports that the case could force Meta to divest Instagram and WhatsApp. The trial will take place in a Washington, D.C., courtroom over the coming weeks. This trial holds significant implications for Meta's future operations in the U.S. and globally. "For nearly a decade, Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition, all at the expense of everyday users. We are taking action to stand up for the millions of consumers and many small businesses that have been harmed by Facebook's illegal behaviour," said New York attorney-general Letitia James. The FTC aims to prove that Facebook has maintained a monopoly in social networking, particularly against emerging competitors like TikTok. They will argue that Facebook's acquisitions of Instagram and WhatsApp stifled competition and enabled the company to unfairly raise ad prices and compromise user data privacy.

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