Instagram social WhatsApp

FTC Antitrust Lawsuit Against Facebook Dismissed by Federal Court

Reading now: 441
variety.com

Todd Spangler NY Digital EditorFacebook won a legal victory Monday after a federal district court tossed out the Federal Trade Commission’s antitrust complaint against the social-media company, saying the agency had failed to make a case that Facebook held a monopoly.Facebook’s stock popped 4.7% Monday on the news to all-time highs.

That pushed the social giant’s market cap over $1 trillion for the first time.In a lawsuit filed in December 2020, the FTC — in coordination with more than 40 state attorneys general — accused Facebook of illegally acquiring competitors Instagram and WhatsApp in an abuse of its monopoly power.

Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA