A U.S. judge in Dallas has thrown out X Corp.’s antitrust lawsuit against the World Federation of Advertisers and major companies like Mars, CVS Health, and Colgate-Palmolive. The lawsuit, filed in 2024, alleged that these advertisers, through an initiative named Global Alliance for Responsible Media, collectively withheld billions of dollars in advertising revenue from X, formerly known as Twitter. However, U.S. District Judge Jane Boyle ruled that X failed to demonstrate any harm under federal antitrust laws.
The lawsuit claimed that the advertisers conspired against X in violation of U.S. antitrust law, despite acting against their own economic interests. CVS and the other defendants, including Mars and Colgate-Palmolive, denied any wrongdoing and argued that X did not prove they colluded in their advertising decisions.
The companies argued that advertisers independently chose other platforms due to concerns about X’s commitment to brand safety following Elon Musk’s takeover in 2022. Musk’s stewardship of the platform has led to legal disputes, including a case where he was found liable for defrauding Twitter shareholders by manipulating the stock price to facilitate a takeover.
Musk’s lawyer criticized the jury’s verdict, accusing them of sending a message to Musk by including the number “420” on the verdict form, a reference to marijuana culture. The lawyer called for a review of the verdict, claiming that the jury’s actions raised doubts about the fairness of the trial.
In response to these developments, lawyers representing the investors involved in the case defended the jury’s decision and criticized Musk for his continued attempts to challenge the court’s rulings. They emphasized the evidence presented during the trial that supported the jury’s findings against Musk’s actions.