The US FTC (Federal Trade Commission) had been brewing off options to take sworn testimony from Facebook Inc.’s top executives such as Zuckerberg and Sheryl Sandberg as a part of its broad-based probe on whether the company was involved in unlawful monopolistic business practices, a Wall Street Journal report had revealed later on Friday citing potential sources who wished to remain anonymous given the sensitivity of the issue.
Apart from that, the Friday’s Wall Street Journal had also quoted several sources as saying that the top Facebook officials had been making preparations for potential dispositions, while many employees were worried about the possibility.
Facebook under heavy fire as US November 3, 2020 election looms
In point of fact, latest move from the FTC came against the backdrop of a critical period when the Menlo Park, California-based social networking industry titan had been under tremendous scale of pressure due to its latest leg of row against the Trump Administration.
Earlier in the second quarter of the year, Facebook Inc. had flagged some of the quotes of US President Donald Trump as inappropriate, while Twitter Inc. had also taken actions against the twitter account of the US President Donald Trump by making some of his posts subject to fact-checking, eventually raising the barometer higher ahead of the US 2020 Presidential election.
Apart from that, earlier in the year, during a congressional hearing, the Facebook Inc. chief Zuckerberg had been faced of a flurry of criticisms over the company’s monopolistic approach, which currently owns four out the six top internet services providers across the globe such as Facebook, Facebook Messenger, WhatsApp and Instagram, suggesting there had been ample room for the Facebook executives to leverage their market shares to tap into unlawful business practices.
As a consequential repercussion of the media headline, voicing a much-softer tone on latest FTC move, a Facebook spokesperson said on Sunday, “We look forward to sharing our views about the competitive landscape, along with other technology leaders, during this month’s Congressional hearing, while also demonstrating for enforcement agencies that our innovation provides more choices for consumers. ”