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Facebook joins $1 trillion market cap club following dismissal of FTC suit

Facebook stock surpassed the mythical $1 trillion high-water mark for the first time on Monday after a pair of antitrust lawsuits were dismissed in federal court.Shares of the social network finished up 4% at $355.64 at the close of trading, giving the company a market cap of just over $1 trillion.Hours before trading was halted, a federal court granted Facebook’s request to dismiss a U.S. Federal Trade Commission antitrust lawsuit. According to the judge, the FTC’s complaint, which alleged Facebook maintains monopoly power over the social networking sector through illegal means, was “legally insufficient.” Read more…
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