Facebook exceeds one billion in capitalization after the antitrust case dismissed
Facebook's actions hit a new record after a federal district judge dismissed two antitrust cases filed by the federal government and a coalition of states.
US District Judge J ames Boasberg in Washington accepted Facebook's request to dismiss complaints filed last year by the US Federal Trade Commission and New York State Attorneys General.
In Boasberg's opinion, the FTC has not offered enough details to prove that Facebook has a monopoly on social networking services. therefore the dominant position was not demonstrated.
As Bloomberg notes, with the ruling, Facebook escaped the most significant regulatory threat to its business to emerge from the broader crackdown on US tech giants. The decision also deals a severe blow to the FTC and states, who claimed there was a violation of antitrust laws for the purchase of the Instagram photo-sharing app and WhatsApp messaging service.
It is now known that the FTC, Federal Trade Commission, cannot automatically dissolve a Big Tech just on the basis of suspected antitrust violations, but must also be able to substantiate this illegitimate behavior in front of a judge.
FB shares received a positive boost, with a 4% rise and the achievement of new price records, after an overall tired day.
With the capitalization of over one billion Bfrs, it also reaches the level of the other 4 FAANGs, Apple, Amazon, Netflix and Google.
How will the FTC now intervene on Google – Alphabet? Mystery…
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The Facebook article exceeds one billion capitalization after the antitrust case dismissal comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/facebook-supera-il-miliardo-di-capitalizzazione-dopo-dismissione-caso-antitrust/ on Tue, 29 Jun 2021 08:00:01 +0000.