The Biden administration’s Federal Trade Commission (FTC) lost a court challenge to prevent Facebook-parent Meta’s acquisition of virtual reality startup Within Unlimited, according to multiple reports Wednesday.
The decision — which has not yet been made public —is the first significant antitrust setback for FTC Chair Lina Khan, who was appointed by President Joe Biden specifically to beef up the agency’s antitrust enforcement, according to Bloomberg. While U.S. District Judge Edward Davila denied the FTC’s challenge, he also ordered Meta wait one week before closing the acquisition to give the FTC time to appeal .
The FTC argued during a […]
Article Source: beckernews.com
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