tech
X wants to keep suing advertisers, asks 5th Circuit to overrule district judge
Musk continues appeal despite court loss and settlement with advertiser group.
TL;DR
- X is attempting to revive a lawsuit against advertisers, alleging an illegal group boycott.
- The company is appealing to the US Court of Appeals for the 5th Circuit after a district judge dismissed the case.
- X claims advertisers colluded through initiatives like GARM, causing economic losses and violating antitrust laws.
- A previous settlement was reached with the World Federation of Advertisers, the initial defendant.
- The lawsuit names other defendants including Mars, Incorporated, CVS Health, Nestle, and others.
- The district judge ruled that loss from competition is not an antitrust injury.
- X's advertising revenue has seen a significant decline since Musk's acquisition of the platform.
- Recent financial reports indicate a decrease in ad revenue for X (formerly Twitter).