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What will be the impact on X's revenue as a result of the antitrust lawsuit by the end of 2024?
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Elon Musk•GARM•World Federation of Advertisers•WFA•CVS Health•Mars•Orsted•Unilever•Northern District of Texas•Linda Yaccarino•Rumble
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Story
Elon Musk’s X and Rumble File Antitrust Lawsuit Against GARM and Major Advertisers Over Billions Lost
Aug 6, 2024, 04:40 PM
Elon Musk's social media platform X has filed a federal antitrust lawsuit on August 6, 2024, against the Global Alliance for Responsible Media (GARM), the World Federation of Advertisers (WFA), and several major companies including CVS Health, Mars, Orsted, and Unilever. The lawsuit, filed in the Northern District of Texas, alleges that these organizations conspired to orchestrate a systematic illegal boycott against X, resulting in significant financial losses. CEO Linda Yaccarino announced the lawsuit, accusing the coalition of abusing its influence over marketers and ad agencies to unfairly discriminate against the platform. The lawsuit claims the boycott deprived X of billions of dollars in revenue. Rumble has also joined X in the legal action, targeting the same groups for similar reasons.
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