The Federal Trade Commission (FTC) decided on Tuesday to remove Mark Zuckerberg from an ongoing lawsuit intended to stop Meta from purchasing a virtual reality company.
The FTC and Zuckerberg reached an agreement, according to a Tuesday court filing, that blocks the billionaire from buying Within Unlimited, the virtual reality company, as an individual or through any of his subsidiaries.
Since July, Meta has been involved in a lawsuit with the FTC over the company's efforts to expand into virtual reality with the purchase of Within Unlimited. The FTC has accused the Facebook parent company, which owns Instagram, Messenger, and WhatsApp, of a "campaign to conquer VR."
Currently, Meta owns the VR headset Quest 2 and controls hundreds of VR apps via the Meta Quest Store. In March 2014, Facebook expanded into VR by purchasing Oculus Rift.
Meanwhile, Meta has stated it is not trying to monopolize the VR market and says the FTC's actions are "based on ideology and speculation, not evidence."
"The idea that this acquisition would lead to anticompetitive outcomes in a dynamic space with as much entry and growth as online and connected fitness is simply not credible," Meta said in a statement at the time. "By attacking this deal in a 3-2 vote, the FTC is sending a chilling message to anyone who wishes to innovate in VR."
It is not known if Meta or the FTC sought the condition to remove Zuckerberg from the lawsuit as it moves forward.