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 –

NBC News

FTC complaint against Facebook struck down in court

The U.S. District Court for the District of Columbia dismissed the Federal Trade Commission’s antitrust complaint against the social media giant, calling it “legally insufficient.”

Read More

Facebook is now worth $1 trillion after a US court’s dismissal of 2 antitrust lawsuits spurs jump in stock

The ensuing rally lifted it into the trillion-dollar club as markets gave it a huge “like” and lifted the rest of the tech space, an analyst said.

Read More

the Guardian

Facebook’s value tops $1tn after judge dismisses US lawsuits

Cases filed by FTC and state attorneys general did not give enough evidence to prove Facebook was a monopoly

Read More

Facebook hit with antitrust lawsuit from FTC and 48 state attorneys general

A coalition of 48 state attorneys general, led by New York’s Letitia James, announced a new lawsuit against Facebook Wednesday, alleging the company stifles competition to protect its “monopoly power.” The lawsuit comes the same day that the Federal Trade Commission announced a separate suit against the social media giant, also accusing it of anti-competitive practices. “For nearly a decade, Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition, all at the expense of everyday users,” Attorney General James said in a statement.

Read More
Photo of author

Cray Zephyr

Cray has a major in philosophy and likes to keep things simple. He tries to keep his opinions to himself but will never shy out of a discussion, except with chickens. A chicken always wins.