US judge junks govt antitrust lawsuits against Facebook: Report

Facebook won a court ruling dismissing two monopoly lawsuits filed by the US government and a coalition of states that sought to break up the company, dealing a blow to efforts by antitrust officials to take on the biggest tech platforms.

The decision by US District Judge James Boasberg in Washington sent Facebook shares soaring on Monday, pushing the company’s market value to more than $1 trillion.

Boasberg granted the company’s request to dismiss the complaints filed last year by the US Federal Trade Commission and state attorneys general led by New York, saying in his opinion the FTC failed to meet the burden for establishing that Facebook has a monopoly in social networking.