The social media platform has faced reduced ad revenue since Elon Musk’s 2022 acquisition|Steve Jurvetson|CC BY 2.0
Elon Musk’s social-media company X (previously Twitter) has sued the World Federation of Advertisers (WFA) and its members Unilever, Mars and CVS Health, accusing them of orchestrating a “massive advertiser boycott.”
X claims the WFA’s brand safety initiative, called the Global Alliance for Responsible Media, led a coordinated effort to pause advertising after Musk’s $44 billion acquisition of Twitter in late 2022.
The lawsuit filed in Texas alleges that the ad boycott deprived the company of billions in revenue and violated antitrust laws.
The social media platform, facing reduced ad revenue since Musk’s 2022 acquisition, seeks damages and an injunction against further conspiratorial action. The ad boycott began in November 2022.