A federal district court in Washington, DC, has no legal basis for market monopoly in a trial in which U.S. officials sued IT giant Facebook for violating Japan's antitrust law. He dismissed the authorities' complaint, saying it was sufficient.
In December of last year (2020), the US FTC = Federal Trade Commission said that there is a possibility of competition such as the photo and video posting application "Instagram" so that Facebook will not threaten its monopoly position. He has filed a lawsuit in federal district court in the capital Washington on suspicion of antitrust violations for acquiring a company and hindering fair competition.
On the 28th, the court dismissed the lawsuit from the authorities, saying that "the legal basis for Facebook's monopoly on the SNS market is insufficient."
He added, "It's as if the FTC is just hoping that the court will nod to the common wisdom that Facebook is monopoly."
In the New York stock market, Facebook's stock price rose, with a market capitalization of $ 1 trillion for the first time, exceeding 110 trillion yen in Japanese yen, following the company's favorable decision.
In the United States, regulators and parliament have been discussing tightening regulations on giant IT companies called GAFA, and authorities have been accusing them of violating antitrust laws, and the impact of this decision is drawing attention.