Two antitrust lawsuits against Facebook were dismissed by a US federal court.

The antitrust complaint filed by the Federal Trade Commission (FTC) against the social media behemoth was deemed too broad by Judge James Boasberg.

Another antitrust lawsuit brought by a group of states was dismissed because the alleged violations occurred too long ago.

On the news, Facebook's stock jumped 4.2 percent to $355.64.

As a result, the social media behemoth's market value surpassed $1 trillion (£720 billion) for the first time ever.

The FTC's complaint was "legally insufficient" and had to be dismissed, according to Judge Boasberg of the US District Court for the District of Columbia, because the FTC had "failed to plead enough facts" to back up its claim that Facebook was stifling competition.

According to the FTC's lawsuit, the technology behemoth, which also owns Instagram and WhatsApp, should be broken up.

Judge Boasberg wrote, "The FTC's complaint says almost nothing concrete on the key question of how much power Facebook actually had, and still has, in a properly defined antitrust product market."

"It's almost as if the FTC expects the court to simply accept the widely held belief that Facebook is a monopoly."

While this is a setback for the FTC that some analysts believe could have ramifications for the future of antitrust law in the United States, the watchdog has until July 28 to re-file the charges.

'Over the last half-decade, I've done nothing'

Separately, Judge Boasberg dismissed an antitrust lawsuit filed by a group of 45 US states and the Federal Trade Commission.

This lawsuit also demanded that Facebook sell Instagram and WhatsApp. It had something to do with Facebook's 2012 and 2014 acquisitions of the two apps.

Facebook asked a federal court in the United States to dismiss the FTC complaint in March, calling it "nonsensical."

The FTC's case, according to the firm, "ignores the reality of Facebook's dynamic, intensely competitive high-tech industry."

Judge Boasberg ruled in this case that the states failed to provide "reasonable justification" for why they waited between six and eight years to sue Facebook, an argument made by the social networking giant previously.

He went on to say that the states had failed to provide "a factual dispute" and had only offered a "half-hearted contention that Facebook was not prejudiced but rather 'benefited from the states not filing sooner,' because the company has been and continues to be very profitable."

"Ultimately, this antitrust action is based on public, high-profile conduct that occurred nearly all over six years ago - before the launch of the Apple Watch, Alexa, or Periscope, when Kevin Durant was still a member of the Oklahoma City Thunder, and when Ebola was the virus dominating headlines," wrote Judge Boasberg.

He went on to say that the states' allegations showed that the lawsuit could have been filed anytime between 2012 and 2014: "The antitrust enforcement system established by Congress does not exempt plaintiffs in this case from 'the consequences of choice' to do nothing over the last half-decade."


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