Facebook’s acquisition of poison-sharing service Giphy is currently under investigation by the CMA. According to the authority, Facebook withheld information, ignored many warnings and committed “gross violations”.
“This is the first time that a company has been disclosed by the Capital Markets Authority for deliberately refusing to report all necessary information,” write power. This is also why the fine is several times higher than normal in similar cases.
“This should serve as a warning to all companies violating the law. We warned Facebook that their refusal to provide us with information was a violation of regulations, but despite the fact that two courts rejected Facebook’s appeal, they continued to ignore their legal obligations,” Joel Bamford, director of the CMA, says in a statement.
Violations referred to by the Capital Markets Authority is, among other things, that Facebook has stopped providing gif files to competitors, and that it is requesting more information from Giphy customers to continue using the service, The guard writes.
Facebook denies that it made any mistakes on purpose.
On Wednesday, there was also information that Facebook is planning to change the name, according to technology website The Verge. The parent company can have a new name that includes Facebook, Instagram and Whatsapp along with many services.
Linus Larsson: The name change seems like a distraction
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