Meta Platforms (Facebook) Stock News

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A federal judge ruling that Meta Platforms does not hold an illegal social media monopoly handed Big Tech its first decisive win against the antitrust crackdown started in President Donald Trump's first term.

Mark Zuckerberg's Meta dodged a forced selloff of Instagram and WhatsApp after beating the Federal Trade Commission's landmark antitrust case.

A federal judge ruled that Meta does not hold a monopoly over social networking after purchasing Instagram and WhatsApp in 2012 and 2014, ending a lengthy case brought by the Federal Trade Commission as part of a series of lawsuits against big tech companies.

After five years, Meta has emerged victorious from a U.S. Federal Trade Commission (FTC) lawsuit over its acquisitions of Instagram and WhatsApp.

Meta's chief revenue officer John Hegeman said on Tuesday he will leave the Facebook parent to launch his own startup, marking a key leadership change amid the social media company's pursuit of superintelligence.

Meta stock was lower despite news that Meta had won the FTC antitrust lawsuit over its acquisitions of WhatsApp and Instagram.

The ruling denies the agency's attempt to force the company to unwind its Instagram and WhatsApp acquisitions.