• bitcoinBitcoin(BTC)$85,915.005.79%
  • ethereumEthereum(ETH)$2,748.704.27%
  • tetherTether(USDT)$1.000.02%
  • binancecoinBNB(BNB)$799.664.02%
  • rippleXRP(XRP)$1.517.05%
  • usd-coinUSDC(USDC)$1.000.02%
  • solanaSolana(SOL)$117.436.55%
  • tronTRON(TRX)$0.3441470.17%
  • zcashZcash(ZEC)$1,487.450.48%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.010.00%
  • HyperliquidHyperliquid(HYPE)$92.840.08%
  • dogecoinDogecoin(DOGE)$0.09897213.65%
  • moneroMonero(XMR)$565.262.40%
  • whitebitWhiteBIT Coin(WBT)$86.464.36%
  • RainRain(RAIN)$0.014027-1.14%
  • chainlinkChainlink(LINK)$12.862.93%
  • USDSUSDS(USDS)$1.000.02%
  • cardanoCardano(ADA)$0.2435336.69%
  • leo-tokenLEO Token(LEO)$8.89-0.50%
  • stellarStellar(XLM)$0.2093426.86%
  • uniswapUniswap(UNI)$8.74-0.57%
  • bitcoin-cashBitcoin Cash(BCH)$264.335.03%
  • nearNEAR Protocol(NEAR)$4.00-1.60%
  • Ethena USDeEthena USDe(USDE)$1.000.00%
  • avalanche-2Avalanche(AVAX)$10.92-2.15%
  • litecoinLitecoin(LTC)$61.524.68%
  • daiDai(DAI)$1.000.01%
  • CantonCanton(CC)$0.1149347.08%
  • USD1USD1(USD1)$1.000.01%
  • suiSui(SUI)$1.0011.59%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.443.71%
  • hedera-hashgraphHedera(HBAR)$0.0911955.11%
  • shiba-inuShiba Inu(SHIB)$0.0000067.79%
  • MemeCoreMemeCore(M)$1.490.70%
  • Global DollarGlobal Dollar(USDG)$1.000.00%
  • BittensorBittensor(TAO)$282.787.45%
  • crypto-com-chainCronos(CRO)$0.0634847.20%
  • paypal-usdPayPal USD(PYUSD)$1.000.02%
  • tether-goldTether Gold(XAUT)$4,351.42-0.38%
  • BitwayBitway(BTW)$0.9531.08%
  • okbOKB(OKB)$122.574.08%
  • Circle USYCCircle USYC(USYC)$1.140.01%
  • Ripple USDRipple USD(RLUSD)$1.000.00%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.140.41%
  • aaveAave(AAVE)$143.165.06%
  • OndoOndo(ONDO)$0.4406074.05%
  • EthenaEthena(ENA)$0.211214-7.04%
  • pepePepe(PEPE)$0.00000524.42%
  • mantleMantle(MNT)$0.633.96%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

Texas AG Ken Paxton investigates GARM ad cartel over boycott ‘conspiracy’

November 21, 2024
in Business
Reading Time: 2 mins read
A A
Texas AG Ken Paxton investigates GARM ad cartel over boycott ‘conspiracy’
ShareShareShareShareShare

Texas Attorney General Ken Paxton launched an investigation into a shadowy left-leaning advertising cabal over whether it participated in a “coordinated plan or conspiracy” to boycott “certain social media platforms,” his office said Thursday.

YOU MAY ALSO LIKE

Paramount reaches settlement with California’s Rob Bonta to clear Warner Bros. merger

Worried about the midterms? Here’s how smart investors play them every time 

Paxton is probing whether the powerful World Federation of Advertising and its now-defunct nonprofit wing, the Global Alliance for Responsible Media (GARM), pressured “advertisers not to purchase online advertising space” from sites that violated its “brand safety standards.”

GARM and its members faced intense scrutiny after a damning House Judiciary Committee report released in July accused them of a coordinated effort to suppress online free speech and restrict ads to a slew of media outlets, including The Post and Elon Musk’s X.

Texas attorney general Ken Paxton demanded documents from WFA and GARM. Jay Janner / American-Statesman / USA TODAY NETWORK via Imagn Images

The Republican demanded documents and information from WFA and GARM as part of the civil investigation. Any evidence of a collusive boycott could violate state antitrust laws, according to Paxton.

“Trade organizations and companies cannot collude to block advertising revenue from entities they wish to undermine,” Paxton said in a statement. “Today’s document request is part of an ongoing investigation to hold WFA and its members accountable for any attempt to rig the system to harm organizations they might disagree with.”

The WFA did not immediately return a request for further comment.

Shortly after Paxton announced the WFA probe, Musk posted on X: “This is still a major problem.”

The House report cited evidence that included internal emails from GARM’s radical executive Robert Rakowitz, who appeared to brag X was “80% below revenue forecasts” after GARM targeted the social media app over brand safety issues.

GARM shut down in August.
Elon Musk’s X is currently suing GARM. Matteo Della Torre/NurPhoto/Shutterstock
Elon Musk’s X said the alleged boycott cost them billions of dollars. via REUTERS

In response to the revelations, Musk hit WFA, GARM and a handful of key advertisers with a federal antitrust lawsuit for allegedly organizing an ad boycott.

The boycott cost X “billions of dollars in advertising revenue,” according to the suit.

WFA and GARM have strenuously denied wrongdoing. However, GARM shut down in August, citing mounting legal costs of its fight against Musk.

In October, X announced that it had reached a settlement with one of the defendants, Unilever, which had plans for its brands to resume advertising on the platform.

The antitrust claims against the other defendants are still pending.

Credit: Source link

ShareTweetSendSharePin

Related Posts

Paramount reaches settlement with California’s Rob Bonta to clear Warner Bros. merger
Business

Paramount reaches settlement with California’s Rob Bonta to clear Warner Bros. merger

September 21, 2026
Worried about the midterms? Here’s how smart investors play them every time 
Business

Worried about the midterms? Here’s how smart investors play them every time 

September 21, 2026
Fast-food chains are chasing the specialty drink boom. Inside Sonic’s strategy
Business

Fast-food chains are chasing the specialty drink boom. Inside Sonic’s strategy

September 21, 2026
California flight attendants fight FAA plan to end state-mandated meal breaks
Business

California flight attendants fight FAA plan to end state-mandated meal breaks

September 20, 2026
Next Post
There’s been a major setback in the ceasefire talks between Israel and Hamas

There's been a major setback in the ceasefire talks between Israel and Hamas

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
Family of 9/11 hero honored by President Trump

Family of 9/11 hero honored by President Trump

September 15, 2026
Japan Raises Interest Rates in a Decision Muddied by U.S. Pressure – nytimes.com

Japan Raises Interest Rates in a Decision Muddied by U.S. Pressure – nytimes.com

September 18, 2026
One killed, suspect shot in Times Square stabbing spree

One killed, suspect shot in Times Square stabbing spree

September 20, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!