Facebook Hits $1 Trillion Value After Judge Rejects Antitrust Complaints

Facebook Hits $1 Trillion Value After Judge Rejects Antitrust Complaints
This illustration photo shows a Facebook app logo displayed on a smartphone in Los Angeles, Calif., on March 1, 2021. Chris Delmas/AFP via Getty Images
Reuters
Updated:

WASHINGTON—A U.S. judge on Monday dismissed federal and state antitrust complaints against Facebook Inc that sought to force the social media company to sell Instagram and WhatsApp, saying the federal complaint was “legally insufficient.”

Facebook shares rose more than 4 percent after the ruling. The share price rise put Facebook’s market capitalization over $1 trillion for the first time.