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Violation Tracker UK Individual Case

Company: Facebook
Current Parent CompanyMeta Platforms Inc.
Parent at the Time of the Penalty Announcement: Meta Platforms Inc.
Penalty: £50,500,000
Year: 2021
Date: 20 October, 2021
Offence Group: competition-related offences
Offence Type: price-fixing or anti-competitive practices
Violation Description: The CMA fined Facebook £50.5 million for breaching an initial enforcement order imposed by the agency during its investigation into Facebook's purchase of Giphy. This was the first time a company has been found by the CMA to have breached an IEO by consciously refusing to report all the required information.
Action Type: agency action
Agency: Competition and Markets Authority
HQ Country of Parent: United States
Ownership Structure of Parent: publicly traded
Major Industry of Parent: information technology
Specific Industry of Parent: internet services
Source of Data(click here)