
Facebook hits $1 trillion market cap after federal court dismisses FTC antitrust complaint
CNN
A federal court has dismissed the Federal Trade Commission's antitrust complaint against Facebook, saying the agency had failed to provide evidence for its claim that the social media giant holds a monopoly in social networking.
In an opinion published Monday afternoon, Judge James Boasberg of the US District Court for the District of Columbia held that the FTC "failed to plead enough facts to plausibly establish ... that Facebook (FB) has monopoly power in the market for Personal Social Networking (PSN) Services." Boasberg wrote that the FTC did not do enough to back up its assertion that Facebook holds a "60%-plus" share of the social media market.More Related News