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Facebook Calls for Khan's Recusal on FTC Antitrust Case

Facebook wants FTC Chair Lina Khan to be recused from joining in decisions regarding the FTC’s antitrust lawsuit against the company.
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Social media titan Facebook  (FB) - Get Facebook, Inc. Class A Report has called for Federal Trade Commission Chair Lina Khan to be recused from joining in decisions regarding the FTC’s antitrust lawsuit against the company.

She’s got a grudge against Facebook, it said in a petition to the FTC.

“Chair Khan has consistently made public statements not only accusing Facebook of conduct that merits disapproval, but specifically expressing her belief that the conduct meets the elements of an antitrust offense," the company said.

"When a new commissioner has already drawn factual and legal conclusions and deemed the target a lawbreaker, due process requires that individual to recuse herself."

It’s unclear whether the news affected Facebook shares, which traded at $349.20, down 0.8% at last check. They have jumped 38% over the past six months amid the company’s stellar financial performance.

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The FTC has until July 31 to decide whether to refile its antitrust case against Facebook, after a judge dismissed the case last month.

Facebook’s request on Khan’s recusal is similar to one lodged by Amazon.com  (AMZN) - Get Amazon.com, Inc. Report last month.

In other Facebook news, TheStreet.com’s Bret Kenwell last month analyzed how investors should approach the stock now that it breached a market capitalization of $1 trillion.

Also in June, Morningstar analyst Ali Mogharabi put Facebook’s fair value at $390.

“While we consider the antitrust risks facing Facebook to be in their early stages, an early positive indication for the firm emerged on June 28, as federal judge James Boasberg dismissed” the FTC lawsuit and one filed by 46 states, Mogharabi wrote.

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