A judge has dismissed two antitrust lawsuits against Facebook, one from the Federal Trade Commission and another by a coalition of US states, dealing a significant blow to regulators and sending the social media group’s share price to record levels.
In an opinion on Monday, Judge James Boasberg in Washington, DC said the FTC’s lawsuit was “legally insufficient” and that the federal agency had “failed to plead enough facts to plausibly establish” that Facebook has monopoly power over the social networking market.
However, the FTC will have 30 days to file a new complaint, he added.
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