Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Facebook Soars Past $1 Trillion Market Cap After District Judge Dismisses FTC’s Anti-Trust Case

Courtesy of ZeroHedge View original post here.

Facebook stock soared to a new record high after a District judge dismissed two antitrust cases filed by the federal government and a coalition of states.

U.S. District Judge James Boasberg in Washington on Monday granted Facebook’s request to dismiss the complaints filed last year by the U.S. Federal Trade Commission and state attorneys general led by New York’s Letitia James.

According to Boasberg's opinion, the FTC didn't offer enough details to show that Facebook has a monopoly for social networking services.

As Bloomberg notes, with the ruling, Facebook has escaped the most significant regulatory threat to its business to emerge out of the wider crackdown on U.S. technology giants. The decision also delivers a blow to the FTC and the states, which claimed Facebook violated antitrust laws by buying photo-sharing app Instagram and messaging service WhatsApp in order to cut off emerging competitive threats and protect its monopoly.

Boasberg’s decision to toss the Facebook complaints shows the hurdles U.S. antitrust enforcers face in trying to take on the internet giants. Officials on their own can’t break up companies or impose other remedies, but instead must persuade judges to take action. The process can take years.

Facebook stock surged more than 3% on the news, sending the stock to a new all time high…

… and pushing the company's market cap above $1 trillion for the first time ever, where FB joins the other quatro comas FAAMG club members.

The full opinion is below (pdf link).

gov.uscourts.dcd.224921.73.0 by Zerohedge


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!