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IPFS News Link • Courtroom and Trials

Judge dismisses FTC and state antitrust complaints against Facebook

• https://www.cnbc.com by Salvador Rodriguez

A federal court on Monday dismissed the Federal Trade Commission's antitrust complaint against Facebook, as well as a parallel case brought by 48 state attorneys general, dealing a major setback for the agency's complaint that could have resulted in Facebook divesting Instagram and WhatsApp.

Shares of Facebook rose more than 4% on Monday following the rulings, sending the social media company's market capitalization above $1 trillion for the first time.

"We are pleased that today's decisions recognize the defects in the government complaints against Facebook," the company said in a statement. "We compete fairly every day to earn people's time and attention and will continue to deliver great products for the people and businesses that use our services."


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