US court dismisses FTC’s lawsuit against Facebook
A United States Federal Court dismissed on Monday an antitrust lawsuit that the US Federal Trade Commission (FTC) filed against Facebook Inc.
“Although the Court does not agree with all of Facebook’s contentions here, it ultimately concurs that the agency’s Complaint is legally insufficient and must therefore be dismissed,” the court filing read. The ruling, however, allows the FTC to file its complaint again since the court hasn’t dismissed the case in its entirety.
Facebook’s shares surged 3.66% after the announcement, selling for $353.72 at 3:10 pm ET, while its market capitalization surpassed the $1 trillion threshold for the first time in history.
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