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House Judiciary Committee Antitrust Panel to Target Big Tech Companies

By Jonah A. Toleno, Partner of Shustak Reynolds & Partners, P.C. posted on Tuesday, March 23, 2021.

It was reported over the weekend that David Cicilline (D), the House Judiciary Committee’s Antitrust Panel’s Chairman, plans to propose at least ten (10) legislation pieces targeting Big Tech companies. Sources say that Representative Cicilline’s legislation bills will be aimed at social media platforms such as Facebook, as well as tech giants Apple, Amazon, and Google. The bill proposals will come on the heels of a 400-plus page report summarizing market power abuses by these companies.

Yahoo Finance, reporting on the story, states that the legislative bills are likely to target these Big Tech companies and the manner in which some of them, such as Facebook, “amplify user content.” It remains to be seen how the market power abuse report and the ensuing legislation will impact share prices of these companies, but the developments and the effects of the bills on the companies are sure to be interesting.

Our firm specializes in securities and financial services litigation. Our attorneys are trained to litigate and provide counsel in the areas of investment fraud, broker transitions and Broker Protocol issues, FINRA arbitrations, SEC investigations and inquiries, trade secret disputes, and other issues arising in the fields of securities and financial services. If you have questions about an investment you own or any other issues relating to securities, feel free to contact us for a consultation.

Shustak Reynolds & Partners, P.C. focuses its practice on securities and financial services law and complex business disputes. 
We represent many broker-dealers, registered representatives, investment advisors, investors and businesses. 
Attorney Jonah A. Toleno can be reached in the firm’s San Diego office at (619) 696-9500. 

 

 

 

 

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