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Facebook surges to $1 trillion after Federal judge dismisses state antitrust suit
Facebook vaulted above the $1 trillion market cap after a federal judge in Washington, DC dismissed the lawsuit by 48 attorneys general of US states and territories accusing it of monopolistic behavior. Filed in December 2020 with much media fanfare, the lawsuit accused Mark Zuckerberg’s behemoth of having a monopoly on Personal Social Network (PSN) services and engaging in “a systematic strategy” to eliminate competition, by buying apps like Instagram and WhatsApp and denying potential rivals access to its platform.  US District Judge James Boasberg dismissed it with prejudice on Monday, explaining in a  53-page ruling that Facebook’

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