NY AG announces lawsuit to end Facebook 'monopoly'

"For nearly a decade, Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition," James said, adding that it did this by using its "vast troves of data and money."

The U.S. Federal Trade Commission and nearly every U.S. state sued Facebook Inc on Wednesday, saying that it broke antitrust law and should potentially be broken up.

With the filing of the twin lawsuits, Facebook becomes the second big tech company to face a major legal challenge this fall.