LOS ANGELES, Feb. 28, 2012 /PRNewswire/ -- Two prominent law firms are investigating Facebook's virtual-currency system known as Facebook Credits. They believe that, by forcing users of its online gaming platform to use only Facebook Credits, Facebook may be in violation of U.S. antitrust laws which prohibit this type of tying two products together.
"Illegal tying occurs when one company dominates an area of commerce with a product and then forces customers to accept another product in order to use the first," said attorney Derek Newman.
In 2011, Facebook announced it would allow no other virtual currency on its dominant social-gaming platform. Millions of social-game players suddenly had no choice but to purchase Facebook Credits. Game developers were forced to incorporate the system, and virtual-currency providers lost the largest customer base in the world.
Mr. Newman along with L.A. attorney Brian Strange launched a web site at StopFacebookCredits.com to bring public attention to the fact that, before Facebook Credits, the virtual currency industry enjoyed a healthy competitive environment that is now almost dead.
"Virtual-currency companies, game developers, and the entire social gaming community are paying higher prices and receiving fewer services," said Mr. Strange. "Concerned citizens can learn more and take action against this practice on our Stop Facebook Credits website."
ABOUT DEREK NEWMAN
Mr. Newman is one of America's most prominent Internet attorneys. He served as lead counsel in the class action Smiley v. ICANN which resulted in a multi-million dollar settlement for consumers and he has argued and won landmark decisions before several courts. Mr. Newman has appeared on national news programs, such as ABC World News Tonight, and on MSNBC, CNBC, and Fox News. For more information, visit www.stopfacebookcredits.com.
ABOUT BRIAN R. STRANGE
Mr. Strange is one of the country's most experienced and respected class action and complex business trial lawyers. His successes have come against some of the nation's largest corporations. He has successfully concluded settlements for class members in excess of $100 million in just the last two years—and since 2000, he has served as lead counsel in class-action cases with combined settlements in excess of $300 million. For more information, visit www.stopfacebookcredits.com.
FOR INTERVIEWS OR QUESTIONS: Contact Derek A. Newman at 310.385.8200 or e-mail [email protected].
SOURCE Newman | Du Wors; Strange & Carpenter