9/6/2019, 2:57 PM (Source: TeleTrader)
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New York AG announces antitrust probe into Facebook

New York Attorney General Letitia James announced on Friday she would be launching an antitrust investigation into Facebook in an effort to determine if the social media giant abused its dominance in the industry and jeopardized user data.

"Even the largest social media platform in the world must follow the law and respect consumers," the attorney general said in a statement. "I am proud to be leading a bipartisan coalition of attorneys general in investigating whether Facebook has stifled competition and put users at risk," James added.

The attorneys general of Colorado, Florida, Iowa, Nebraska, North Carolina, Ohio, Tennessee, and the District of Columbia have also announced they would be joining the leadership team investigating Facebook.

Facebook's shares lost 0.65% in premarket at 8:56 am ET.

Breaking the News / GG