Facebook also discloses FTC antitrust probe

Facebook also announced on Wednesday that the Federal Trade Commission (FTC) had opened an antitrust investigation into the company.

“The online technology industry and our company have received increased regulatory scrutiny in the past quarter. In June 2019, we were informed by the FTC that it had opened an antitrust investigation of our company,” Facebook said in an earnings release.

The revelation comes a day after the Justice Department separately announced that it was launching an investigation into whether major tech companies have stifled competition or harmed consumers.

If the agency finds that Facebook has behaved in a way that suppresses competition, it could choose to pursue legal action, which would likely lead to a costly, years-long court battle.