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US judge dismisses FTC lawsuit against Facebook
A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
A U.S. judge on Monday dismissed an antitrust lawsuit against Facebook Inc (FB.O) that sought to force the social media company to sell Instagram and WhatsApp, saying the Federal Trade Commission action was "legally insufficient"
Washington: A U.S. judge on Monday dismissed an antitrust lawsuit against Facebook Inc (FB.O) that sought to force the social media company to sell Instagram and WhatsApp, saying the Federal Trade Commission action was "legally insufficient."
Facebook shares rose more than 3% after the ruling was published.
The judge also dismissed a lawsuit filed by multiple U.S. states in December, saying that they had waited too long and could not challenge acquisitions from so long ago.
Judge James Boasberg of the U.S. District Court for the District of Columbia said the FTC had failed to show that Facebook had monopoly power in the social networking market.
The judge said that the FTC could file a new complaint by July 29.
Facebook had asked for the lawsuits, which were filed last year, to be dismissed.
Regarding the FTC lawsuit, the judge wrote: "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."
Neither Facebook nor the FTC immediately responded to a request for comment.
