Facebook Inc (NASDAQ: FB) is trading higher after the federal court dismissed the Federal Trade Commission’s antitrust lawsuit against the company.
The FTC’s antitrust complaint against Facebook could have resulted in the divestment of Instagram and WhatsApp. The federal court determined that the FTC was unable to prove that Facebook maintained a 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,” said the U.S. District Court in a filing.
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Price Action: Facebook is making a new all-time high in trading today, as its market cap crosses $1 trillion for the first time.
At last check Monday, the stock was up 4.52% at $356.79.
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