Judge dismisses federal antitrust suits against Facebook

A federal judge on Monday dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and a coalition of state attorneys general, dealing a significant blow to attempts by regulators to rein in tech giants.

U.S. District Judge James Boasberg ruled Monday that the lawsuits were "legally insufficient" and didn't provide enough evidence to prove that Facebook was a monopoly. The ruling dismisses the complaint but not the case, meaning the FTC could refile another complaint. Facebook shares rose 4% on the day, lifting the company's market value to more than $1 trillion for the first time.