X's financial reports or public financial statements

X Files Antitrust Lawsuit Against GARM and Major Brands Over Billions in Losses

Aug 6, 2024, 03:26 PM

X has filed a federal antitrust lawsuit against the Global Alliance for Responsible Media (GARM), the World Federation of Advertisers (WFA), and several major brands including CVS Health, Mars, Orsted, and Unilever. The lawsuit, announced by CEO Linda Yaccarino, alleges that these entities conspired to organize an illegal boycott against X, leading to significant financial losses amounting to billions of dollars. The suit claims that GARM and its members abused their influence over marketers and ad agencies to discriminate against X unfairly. Elon Musk, associated with X, emphasized the severity of the situation, stating that they had tried to resolve the issue peacefully for two years before resorting to legal action.