X wants to keep suing advertisers, asks 5th Circuit to overrule district judge
Summary
X, owned by Elon Musk, is trying to restart a lawsuit against several advertisers it claims unfairly boycotted its social media platform. A judge dismissed the case earlier this year, saying the advertisers had not broken antitrust laws, but X is asking a higher court to overturn that decision and continue the lawsuit.Key Facts
- X alleges a group boycott by advertisers caused it to lose significant ad revenue.
- A Texas judge dismissed the lawsuit in March, ruling no antitrust violation occurred.
- X settled with the World Federation of Advertisers but is still suing other companies like Mars, CVS, Nestle, and Lego.
- The lawsuit claims the advertisers’ coordinated boycott unfairly hurt competition on social media.
- The legal dispute involves GARM, an advertising industry group focused on brand safety standards.
- X’s ad revenue dropped after Musk’s purchase of Twitter in 2022, partly due to advertiser concerns over content.
- X is asking the 5th Circuit Court of Appeals to revive the case against the remaining defendants.
- Musk’s company, X Corp., is now a SpaceX subsidiary, and recent reports show declining ad revenue for X.
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