Facebook and Mark Zuckerberg are waking up this week as happy as can be, a Judge has dismissed the FTC antitrust complaint against the company.
Antitrust rules have been seen as the key to defeating this major corporate entity in the wake of political censorship and Facebook’s control over the social media space.
While Facebook and Zuckerberg are walking away scott free today, the judge in the ruling said that the court did not agree with all of Facebook’s contentions and then hinted at the court possibly siding with the FTC if the complaint is ammended and refiled.
From The Daily Caller:
The court claimed that the FTC did not demonstrate in its complaint that Facebook’s market power reaches that of a monopoly. “The FTC has failed to plead enough facts to plausibly establish a necessary element of all of its Section 2 claims — namely, that Facebook has monopoly power in the market for Personal Social Networking (PSN) Services,” the court said, according to Reuters.
“The possession of monopoly power in the market for Personal Social Networking Services (as defined by the agency) — is not adequately pleaded here,” the court asserted. “No more is needed to conclude that the Complaint must be dismissed.”
Off the news of the FTC complaint dismissal, Facebook’s stock price rose 3%, CNBC reported, which elevated the social media company’s market capitalization to more than $1 trillion for the first time ever.