Elon Musk Files Antitrust Lawsuit Against Advertisers for ‘Massive’ Boycott

Elon Musk’s social​ media platform, X, has filed an antitrust ⁢lawsuit against the⁤ Global ‍Alliance for Responsible Media (GARM), a cross-industry ⁢organization that includes major companies like Mastercard, Procter & Gamble, ‌and Unilever. X accuses GARM of⁤ orchestrating a “massive advertiser boycott” against the‍ platform. X CEO Linda Yaccarino‍ confirmed the complaint in an ‍open letter to advertisers and stated that it was filed in a federal ⁣court in Texas.

The ⁣lawsuit comes after X reviewed an investigation conducted by the Republican-controlled House Judiciary Committee. The investigation found that GARM allegedly organized boycotts and used indirect tactics to target platforms, content creators, and news organizations they disapproved of. The committee is currently examining whether existing U.S. laws are sufficient to ​deter anticompetitive collusion in online advertising.

Yaccarino claims that GARM’s ⁤actions have cost X billions of dollars in lost advertising revenue. Since taking over the ‍company in late 2022, Musk has been​ critical of GARM and certain advertisers.

In response to the lawsuit, GARM and its individual members named in the complaint have not provided ‍any statements or responses.

Rumble, a streaming platform, also announced its​ intention to join X’s lawsuit against GARM and ‍other companies involved. Rumble accuses them of violating antitrust laws ​by colluding to withhold digital advertising revenue.

GARM was established in 2019‍ with the goal of curbing ⁢dangerous, hateful, disruptive, and ​fake content online according to⁢ their ‍website on WEF (World Economic Forum).

The ⁤Epoch Times ⁣reached out for comments‍ from both GARM and the World Federation⁤ of Advertisers but‌ has not received any responses yet.

It remains unclear how this legal battle will unfold as both sides present​ their arguments before a federal court.

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