Settlement in Legal Dispute Between Unilever and X

Unilever, the British consumer goods giant, has settled its legal dispute with the social media company X. In a statement filed on Friday at a federal court in Wichita Falls, Texas, X announced that it had withdrawn its lawsuit against Unilever, which was filed in August. The lawsuit stemmed from X's accusation that several major corporations, including Unilever and Mars, had unlawfully conspired to boycott the platform. X claimed that these companies had collaborated with the World Federation of Advertisers and its Global Alliance for Responsible Media initiative, resulting in a loss of advertising revenue. The lawsuit against the remaining companies is unaffected by this step and is still pending. Following the withdrawal of allegations against Unilever, X expressed positive sentiments in a tweet about the settlement and the continuation of the partnership. This was described as the first step towards a comprehensive solution across the entire ecosystem, the company emphasized. The terms of the settlement were not disclosed by either party. Upon request, Unilever stated that X had committed to adhering to their standards of responsibility to ensure brand safety and performance on the platform. A more detailed statement on the settlement terms was not provided. Since X's acquisition by Elon Musk in October 2022, there have been concerns that brand advertising could appear alongside harmful content, leading some advertisers to leave the platform. The conspiracy allegation stated that there had been an attempt to divert 'billions of dollars in advertising revenue' from X, the former Twitter. Musk had responded to the allegations emphatically at the time.