On August 7th, local time on August 6th, Musk's social media company X filed a federal antitrust lawsuit against the World Federation of Advertisers (WFA) in Texas, claiming that companies in the alliance illegally boycotted the X platform. X accused companies such as CVS Health, Mars and Unilever of conspiring to withhold billions of dollars in advertising fees to force the X platform to maintain certain security standards.
The boycott began after Mr. Musk bought Twitter in November 2022 and continues to this day, according to the lawsuit. X said the alliance's effort to get its members to agree to a boycott violated the Antimonopoly Act and was a "coercive exercise of market power".
X Sues Advertising Alliance, Claiming to Have Lost Billions of Dollars for "Illegal Boycott"
2024-08-07 01:36:35
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