PayPal's Venmo lawsuit against Apple for monopoly was rejected by the court, and the judge said it was 'speculative'

News from this site on March 28, U.S. District Judge Vince Chhabria in San Francisco ruled on Tuesday to dismiss the antitrust lawsuit filed by PayPal's Venmo against Apple, believed that the proposed class The lawsuit was "speculative" and pointed out that there were several serious problems in the lawsuit document, but gave the plaintiff 21 days to amend the lawsuit document.

The filing also states that the plaintiffs failed to establish what antitrust conduct occurred or why competitors such as Zelle did not was included in the original indictment. The filing also calls the plaintiffs' argument "inferential" and outlines the premises the court found flawed.

Tips from this website: Venmo raised cryptocurrency-related restrictions on Apple’s App Store in November 2023, hurting competition in peer-to-peer payments and pushing up PayPal’s Venmo and Block’s Cash App of cash and credit card transaction fees.

The group discussion concluded that Apple has excluded at least two Bitcoin wallet applications. Apple did not immediately respond to a request for comment Tuesday. The company denies any wrongdoing. Lawyers for the plaintiffs declined to comment.

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