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Facebook reportedly facing fresh probe by Justice Department
By: MarketWatch | September 26, 2019

Facebook Inc. is reportedly facing a fresh regulatory probe, as a report said the U.S. Justice Department is looking into whether the social media group has broken antitrust laws.

The federal agency opened the investigation at the behest of U.S. Attorney General William Barr, Bloomberg News reported, citing a person close to the matter. That probe comes as the Federal Trade Commission is undergoing its own investigation over potential anticompetitive practices by Facebook FB, -1.20% . The company did not immediately respond to a request for comment.

Facebook shares fell more than 1% in premarket trading.

Facebook CEO Mark Zuckerberg met with U.S. lawmakers last week and President Donald Trump to discuss tech regulation. The tech CEO sparred with some senators at a private dinner over several issues.

The Justice Department’s involvement runs counter to an alleged agreement between the regulators where the FTC would concentrate on Facebook and Amazon AMZN, -0.33% , while the DoJ would focus on Apple AAPL, -0.31% and Google owner Alphabet GOOGL, +2.27%.

Facebook shares on Wednesday fell $1.15 to $181.70. The stock has surged 39% this year.

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