Antitrust case against Facebook dismissed, shares rise

Federal judge dismisses two antitrust cases brought against Facebook.

Federal judge dismisses two antitrust cases brought against Facebook.

The FTC and state attorneys general were seeking to break up what they’ve described as Facebook’s monopoly on social networking.

Judge James Boasberg said that FTC lawyers didn’t provide enough evidence or explanation on how they determined that Facebook controls more than 60 percent of the social media networking market. A separate lawsuit was struck down by several attorneys general, echoing arguments made in the FTC lawsuit.

State and federal prosecutors now have 30 days to file new antitrust complaints against the company. Some lawmakers decry the ruling, saying it may provoke Congress into pursuing more aggressive legislation against social media companies.

Facebook shares rose more than 4 percent on June 28, when the ruling was announced. The decision was announced by the FTC on June 29, 2013. 

You can find a copy of the complaint on the government website – https://www.ftc.gov/system/files/documents/cases/051_2021.01.21_revised_partially_redacted_complaint.pdf

NBC News

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the Guardian

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