BREAKING: Trump admin, 48 states seek to break up Facebook

"I'm leading a bipartisan coalition of 48 attorneys general in a lawsuit against @Facebook to end its illegal monopoly. We are taking action to stand up for the millions of consumers and many small businesses that have been harmed by Facebook’s illegal behavior," James wrote.

James said that "Facebook has used its monopoly power to crush smaller rivals and snuff out competition, all at the expense of everyday users. Instead of improving its own product, Facebook took advantage of consumers and made billions of dollars converting their personal data into a cash cow.

"Today’s suit should send a clear message to Facebook and every other company: Efforts to stifle competition, reduce innovation, or cut privacy protections will be met with the full force of almost every attorney general's office in the nation."

The suit alleges that "Facebook is the world’s dominant online social network. More than 3 billion people regularly use Facebook’s services to connect with friends and family and enrich their social lives.

"But not content with attracting and retaining users through competition on the merits, Facebook has maintained its monopoly position by buying up companies that present competitive threats and by imposing restrictive policies that unjustifiably hinder actual or potential rivals that Facebook does not or cannot acquire."

The suit, Federal Trade Commission v. Facebook, asks for a breakup of the tech giant's additional social media holdings.