Facebook (FB) - Get Facebook, Inc. Class A Report closed with a market capitalization of over $1 trillion after a federal judge dismissed two antitrust lawsuits filed by the federal government and a coalition of states attorneys general.
U.S. District Judge James Boasberg in Washington D.C. said the Federal Trade Commission failed to prove that Facebook is a social networking monopoly.
“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,” Boasberg wrote, according to a Bloomberg report.
The FTC can refile the complaint within 30 days.
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