FTC Issues Ban on Noncompete Agreements — but Experts Say Rule Will Face Legal Challenges [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
But experts in the field said the FTC's move will definitely be challenged in court. Under the FTC's new rule, existing noncompete agreements for the “vast majority” of workers will no longer be enforceable. Existing noncompetes for employees deemed to be senior executives — who represent less than 0.75% of workers, according to the agency — can remain in force under the FTC's final rule, but employers will be prohibited from entering into or attempting to enforce any new noncompetes, even if they involve senior executives. Employers will be required to provide notice to workers other than senior executives who are bound by an existing noncompete that they will not be enforcing any noncompetes against them. More from Variety Meta Seeks Dismissal of FTC's Antitrust Lawsuit Over Instagram, WhatsApp Deals, Claiming It 'Faces Fierce Competition From a Range of Platforms' FTC Sues Amazon, Alleging Company Illegally Maintains 'Monopoly Power' FTC Opens Probe Into ChatGPT Creator O
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META
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- 2/1/24 - Beat
META
Sec Filings
- 5/3/24 - Form 144
- 5/2/24 - Form 4
- 5/2/24 - Form PX14A6G
- META's page on the SEC website