"X Corp alleged that firms including Unilever and Mars conspired to deprive it of billions of dollars in advertising revenue, claiming violations of US antitrust laws."
"Judge Jane Boyle stated that the company had failed to show it had suffered any harm under federal competition laws, leading to the dismissal of the lawsuit."
"Following Musk's acquisition of Twitter in 2022, advertising revenue on the platform fell by more than half as some firms paused or reduced their promotions."
"The lawsuit claimed that the accused firms acted against their own economic self-interest, violating antitrust laws designed to promote fair competition between companies."
A US judge dismissed a lawsuit by X Corp, owned by Elon Musk, against several advertisers accused of boycotting the platform. The lawsuit claimed that companies like Unilever and Mars conspired to deprive X of billions in advertising revenue. Judge Jane Boyle ruled that X Corp failed to prove any harm under federal competition laws. Following Musk's acquisition of Twitter in 2022, X experienced a significant drop in advertising revenue, prompting the lawsuit. The defendants denied wrongdoing and argued their actions were independent.
Read at www.bbc.com
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