Facebook’s value tops $1tn after judge dismisses US lawsuits

Cases filed by FTC and state attorneys general did not give enough evidence to prove Facebook was a monopoly

In a significant blow to US regulators' attempt to rein in big tech, a federal judge has dismissed lawsuits brought against Facebook by the Federal Trade Commission and a broad coalition of state attorneys general.

Markets cheered the ruling, sending Facebook shares surging by more than 4%, which pushed the social network's market value to more than $1tn (722bn) for the first time.