{"id":19200,"date":"2021-06-29T06:08:38","date_gmt":"2021-06-29T10:08:38","guid":{"rendered":"http:\/\/worldjusticenews.com\/news\/?p=19200"},"modified":"2021-06-29T06:08:38","modified_gmt":"2021-06-29T10:08:38","slug":"facebook-joins-1-trillion-club-after-anti-trust-victory","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2021\/06\/29\/facebook-joins-1-trillion-club-after-anti-trust-victory\/","title":{"rendered":"Facebook joins $1 trillion club after anti-trust victory"},"content":{"rendered":"
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The stock market value of Facebook has topped $1 trillion for the first time after the tech giant won a court victory against US regulators.<\/b><\/p>\n<\/div>\n<\/div>\n

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A federal court dismissed two lawsuits, from the Federal Trade Commission (FTC) and a coalition of states, sending Facebook shares up 4.2%.<\/p>\n<\/div>\n<\/div>\n

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It took the value of Facebook above $1tn, making it the last of the “big five” tech firms to hit the milestone.<\/p>\n<\/div>\n<\/div>\n

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The legal actions had accused Facebook of stifling competition.<\/p>\n<\/div>\n<\/div>\n

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But Judge James Boasberg ruled that the FTC’s anti-trust complaint against the social networking giant was too vague.<\/p>\n<\/div>\n<\/div>\n

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Another separate anti-competition lawsuit filed by a group of 46 states was thrown out because the alleged violations occurred too long ago.<\/p>\n<\/div>\n<\/div>\n

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In the\u00a0US District Court for the District of Columbia ruling<\/a>, Judge Boasberg wrote that the 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.<\/p>\n<\/div>\n<\/div>\n

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