The FTC May Depose Top Facebook Execs In Antitrust Probe

The Federal Trade Commission is considering taking sworn testimony from Facebook, reported The Wall Street Journal.  Chief Executive Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg as part of its investigation into whether the social-media giant has violated US antitrust laws, according to people familiar with the matter.

Top Facebook officials are preparing for potential depositions and some are worried about the possibility, a person familiar with the matter said. However, the company now is most immediately planning for Mr. Zuckerberg’s scheduled July 27 appearance before the House Judiciary antitrust subcommittee, where he and other top tech executives are expected to be grilled by lawmakers.

The executives weren’t deposed in the FTC’s prior probe of Facebook for alleged consumer-privacy violations, a matter that resulted in a $5 billion settlement a year ago. FTC officials in announcing that agreement said they floated the possibility of deposing Mr. Zuckerberg as one way of extracting a bigger settlement from the company.

A Facebook spokesman said the company has continued to demonstrate to enforcement agencies that its “innovation provides more choices for consumers.” The spokesman added that Facebook looks forward to sharing its views about the competitive landscape alongside other technology leaders later this month at the congressional hearing.

Facebook is one of a handful of tech giants in the government’s crosshairs amid concerns they are too powerful and stifle competition.

Facebook-owned platforms, including Instagram and WhatsApp, have more than 2.5 billion users world-wide, and the company has emerged as one of the few dominant players in the US digital advertising market.

The FTC has been examining whether Facebook has engaged in unlawful monopolistic practices, including whether it had a strategy of buying up potential rivals for the purpose of heading off future competitive threats, reported the WSJ.