A failed challenge of Facebook’s dominance
A US judge has dismissed anti-trust lawsuits against Facebook challenging the company saying it protects its dominance by buying competitors. It accused the company of cementing its monopoly by buying social network Instagram and messaging service WhatsApp. The judge said too long time has passed since Facebook bought the companies. It was also considered too vague to be considered.
The lawsuit was filed by US authority Federal Trade Commission and supported by more than 40 states.
The markets reacted positively, shares were up and Facebook was for the first time valued above USD 1 trillion, the New York Times reported.
The judge said FTC’s complaint was “legally insufficient” and had to be dismissed, because the FTC had “failed to plead enough facts” to back up its claim that Facebook was stifling competition.
The FTC can re-file the charges and has until 28 July to do so.
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