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.
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