The World Federation of Advertisers is discontinuing its Global Alliance for Responsible Media initiative after facing a lawsuit from social media platform X, alleging involvement in a massive advertiser boycott post-Elon Musk acquisition in 2022.
X's lawsuit alleges advertisers conspired through GARM to withhold billions in advertising revenue after Musk's acquisition of the company, further accusing defendants of violating antitrust laws based on findings from the U.S. House Judiciary Committee.
X CEO Linda Yaccarino views GARM's discontinuation as a 'necessary step in the right direction,' responding to the Judiciary Committee GOP post. However, X might still face a prolonged legal battle with the advertisers it sued.
#world-federation-of-advertisers #global-alliance-for-responsible-media #lawsuit #advertiser-boycott #social-media-platform
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