KEY POINTS
  • A federal court on Monday dismissed the Federal Trade Commission's antitrust complaint against Facebook.
  • The dismissal deals a major setback to the agency's complaint, which could have resulted in Facebook divesting Instagram and WhatsApp.
  • In the filing, the court states that the FTC did not prove Facebook maintains a monopoly.

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A federal court on Monday dismissed the Federal Trade Commission's antitrust complaint against Facebook, as well as a parallel case brought by 48 state attorneys general, dealing a major setback to the agency's complaint, which could have resulted in Facebook divesting Instagram and WhatsApp.

Shares of Facebook rose more than 4% on Monday following the rulings, sending the social media company's market capitalization above $1 trillion for the first time.

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