On Monday, 28th June 2021, a judge has rejected the antitrust complaints of the federal and state governments against the social media giant Facebook Inc., that had been sought for forcing the social media company for the purpose of selling WhatsApp and Instagram, by saying that the complaint had been legally insufficient.
The shares of the company Facebook have been increased by more than 4 percent after the ruling of the court, which has been responsible in increasing the market capitalisation if the company at more than one trillion dollars for the first time, and the rejection of the antitrust complaint had been the first big blow to the federal and state lawsuits against the big technology companies in 2020, that are seeking to rein in the abuses of the market power of the companies.
James Boasberg, judge of the District Court for the district of Columbia said, the FTC of the United States of America said have been failed for showing that, the company Facebook was having pawer of monopoly in the market of social networking but the said that, the FTC could possibly file a new complaint by 29th July 2021. The judge has also dismissed a lawsuit by multiple states in the US by saying that, they have waited for too long for challenging the acquisitions of WhatsApp and Instagram in the years 2012 and 2014 respectively.
A spokesperson of Facebook said, they have been pleased that, the decisions of the court have been able to recognize the defects in the complaints of the government, that were filed against the company.