The Federal Trade Commission said it would drop Mark Zuckerberg from a lawsuit filed last month seeking to block Meta Platforms Inc. from buying a small virtual-reality company.
In return, the Meta
chief executive agreed not to purchase the startup, Within Unlimited Inc., and its fitness app called Supernatural, in his personal capacity or through any other entities he controls, according to a court document filed Tuesday.
Last month, the federal agency said that Meta, the parent company to social-media apps including Facebook and Instagram, is already a key player at every level of the virtual-reality sector as it seeks to build out the so-called metaverse.
The FTC alleges that Meta and Zuckerberg are nonetheless trying to expand the company’s virtual-reality empire by buying the fitness app, a move that they say violates antitrust laws and lessens competition.
Meta had asked the agency to remove Zuckerberg from the lawsuit.
An expanded version of this report appears on WSJ.com.
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