Facebook hit with another antitrust probe2019|01:07
Attorneys general from several states are formally launching antitrust probes into Facebook - ramping up pressure on the social media giant, which is already facing increased scrutiny from regulators. New York state is leading Friday's action with Attorney General Letitia James tweeting the investigation will determine whether Facebook's "actions endangered consumer data, reduced the quality of consumers' choices, or increased the price of advertising." James confirmed Colorado, Florida, Iowa and others are joining the bipartisan probe. Facebook is already facing a separate investigation by the Federal Trade Commission over antitrust concerns. And it recently settled a privacy violations case with the FTC for 5 billion dollars. Earlier this week, Reuters also reported that more than 30 U.S. state attorneys general were preparing an investigation into Alphabet's Google - also for potential antitrust violations. That investigation is expected to be formally launched on Monday and will be led by the Texas Attorney General.