Elon Musk’s social media platform X has filed a lawsuit against a group of advertisers, claiming that a “massive advertiser boycott” has cost the company billions of dollars in revenue and violated antitrust laws.
The company, formerly known as Twitter, filed the lawsuit in federal court in Texas on Tuesday against the World Federation of Advertisers and its member companies Unilever, Mars, CVS Health and Orsted.
The company blamed the ad group’s Global Alliance for Responsible Media for helping orchestrate the ad pause after Musk bought Twitter in late 2022 for $44 billion. We have completely overhauled our staff and policies.
Musk posted about the lawsuit on X on Tuesday, saying that after two years of kindness and “only empty words in return,” “it’s war now.”
X CEO Linda Yaccarino said In a video announcement, he said the lawsuit stems in part from evidence uncovered by the U.S. House Judiciary Committee that shows “a group of businesses orchestrated a coordinated illegal boycott of Company X.”
The Republican-led committee held a hearing last month to consider whether current laws are “sufficient to prevent anticompetitive conspiracies in online advertising.”
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