Meta Platforms withheld information from federal regulators during their original reviews of the Instagram and WhatsApp acquisitions, the U.S. Federal Trade Commission said in a court filing as part of a lawsuit seeking to break up the social networking giant.
The company formerly known as Facebook bought photo-sharing app Instagram in 2012 and the messaging app WhatsApp in 2014. Both transactions were scrutinized by the FTC at the time before they closed — Instagram as part of an in-depth review and WhatsApp with a simple 30-day one.
In the years since, the agency has faced significant criticism for allowing the deals to move forward. In 2020, the antitrust agency sued Meta alleging that it monopolized the personal social networking market by buying up emerging rivals. Meta is seeking to have the case thrown out before a trial, arguing that it has invested billions in the apps and that the FTC shouldn’t be able to renege on its prior approval of the mergers.