Washington: US Judge on Monday rejected the antitrust blockbuster action against Facebook submitted last year by federal and state regulators, helping to raise the value of social media giants above $ 1 trillion for the first time.
Judge James Boasberg from the US District Court in Washington, DC rejected the cases submitted in December by the Federal Trade Commission and more than 40 countries, who could play back Facebook acquisitions from Instagram and the WhatsApp Messaging Platform.
Federal lawsuit “fails to be a lot of facts to assign the necessary elements …
that Facebook has the power of monopoly in the market for personal social networking services,” said the judge in the opinion of 53 pages, while it allows the opportunity to pick cases.
On lawsuits submitted in December who were consolidated in the Federal Court, US and State Officials called for Divesta Instagram and WhatsApp, on the grounds that Facebook has acted to “root and maintain monopolently to deny the benefits of the competition.” Judge issued a separate opinion against a case by countries, said the lawyer General had waited too long to present the case for the acquisition of Instagram in 2012 and whatsapp in 2014.
The judge said there was no concrete on the key question about how much facebook power actually …
almost As if the agency expects a court to just nodding at conventional wisdom that Facebook is a monopoly.
“The federal body based on the affirmation of” vague “that Facebook controlled more than 60 percent of the social networking market, but FTC” did not even accuse what it measures.
“Boasberg wrote that” the market in question here is not unusual in several ways, Including that the products in it are not sold at prices …
the court thus cannot understand exactly what the ’60 percent ‘agency is on ’60 percent’.
Even referring to, especially can conclude the underlying facts that might prove it.
“Still he decided that” this defect can be overcome by reiflowing, “allowing federal agents is likely to take action.
Facebook shares jumped after the decision, raised the company’s market assessment above $ 1 trillion for the first time.
In a statement, the company said,” We are pleased that today’s decision recognizes defects in the government complaints submitted to Facebook.
We compete fairly every day to get the time and attention of people and will continue to provide great products for the people and business.
Use our services.
“The decision came a week after the advanced legislation of the US Congress panel which would lead to the reshuffle of antitrust housing and gave more power to the regulator to divide large technology companies, especially aim at Facebook, Google, Amazon, and Apple.
The action occurred amid worries Growing in the strength of large technology companies, which are increasingly dominating the main economic sector and has seen stable growth during a pandemic.
The Facebook critic said the verdict highlighted the need to revise the antimonopoly law for the internet era.
“This is a setback – not the end – in the FTC war fight.
Large dominant technology monopoly like Facebook, “said Charlotte Slaiman from public knowledge of the consumer group.” FTC must continue this important work, because Judges have indicated institutions can still file new complaints if they can overcome this problem.
At the same time, Congress worked on sustainable to overcome the great strength and the rules to overcome the great strength of Tech, as well as wider antitrust reform, now very important and urgent.
“