Formerly known as Twitter, X has dismissed Unilever from a lawsuit alleging that the consumer goods behemoth and others colluded with a group representing the advertising industry to boycott the social networking site, costing it a significant amount of money in ad revenue.
In a filing in Federal Court in Wichita Falls, Texas, X announced that it was dropping its allegations against Unilever in the August antitrust case, according to a Reuters story.
Recall that in a lawsuit, X accused the World Federation of Advertisers (WFA) and its members—which included the Danish renewable energy business Orsted, the candy manufacturer Mars, Unilever, and CVS Health—of plotting to withhold “billions of dollars in advertising revenue.”
In 2019, WFA and the members of its advertising group started a project to help the industry address the challenge of illegal or harmful content on digital media platforms and its monetization via advertising.
In a statement available to BrandSpur digital news platform, Unilever, the company behind Pepsodent toothpaste, Hellmann’s sauces, and Dove soaps, said that it had achieved a deal with X.
The statement partly reads: “X has committed to meeting our responsibility standards to ensure the safety and performance of our brands on the platform.” Unilever, however, remained silent regarding the settlement’s precise terms.
X announced in a statement that it and Unilever had come to an agreement. It reads: “We are pleased to continue our partnership with them on the platform.”
Additionally, X refuses to comment on the terms of the agreement, stating: “We are continuing to pursue our antitrust claims against the other defendants.”
The World Federation of Advertisers is among the other defendants who have not yet replied to the court or to enquiries about the action.
