Facebook gets its way as federal and state antitrust complaints against it are dismissed
Despite the rulings passed down by the judge, some of the states don’t feel that the game is over. Facebook had requested that the suits be dismissed and Judge Boadberg obliged, but a spokesman for the New York Attorney General’s office said that it was “considering our legal options.” Meanwhile, the judge stated that “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.”
A Facebook spokesman said, “We are pleased that today’s decisions recognize the defects in the government complaints filed against Facebook.” On the other hand an FTC spokesperson said the agency was “closely reviewing the opinion and assessing the best option forward.” Facebook’s argument is that the FTC lacks the authority to seek relief against Facebook’s purchase of Instagram and WhatsApp.
After the ruling was announced, Facebook’s shares soared over 4% or $14.27 to $355.64 giving the company a market value of $1.01 trillion.