Linda Yaccarino, CEO of X/Twitter, has announced a lawsuit against the Global Alliance for Responsible Media (GARM), the World Federation of Advertisers (WFA), and GARM member companies such as CVS Health, Mars, Orsted, and Unilever for alleged violations of antitrust and anti-competition laws.
Yaccarino stated that X/Twitter has seen continuous user growth and is working to create tools to control ad placements as requested by advertising groups, but has faced boycotts from various brands leading to significant revenue losses in the billions.
X/Twitter’s revenue has seen a consistent decline, dropping by up to 40% in the first half of 2023 compared to 2022, alongside high loss rates.
Source: X.com/lindayaX
TL;DR: X/Twitter CEO, Linda Yaccarino, files a lawsuit against GARM, WFA, and member companies for antitrust violations, citing revenue loss and declining user growth.
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