01:49 PM EDT, 07/12/2024 (MT Newswires) -- (Updates with additional details and latest stock move.)

A federal judge has granted Apple's ( AAPL ) motion to dismiss a class action lawsuit alleging the tech giant engages in anticompetitive practices through its agreements with internet search companies that bar market entry for third-party apps.

"Apple's ( AAPL ) motion to dismiss is granted on the basis that Plaintiffs lack antitrust standing for all their claims and Article III standing for injunctive relief," Judge Richard Seeborg for the US District Court for the Northern District of California said in his ruling on Thursday.

Seeborg also said that Apple's ( AAPL ) arguments for dismissal "cast doubt on whether plaintiffs are the correct class of harmed individuals to bring this case." The judge granted the plaintiffs 30 days to file an amended lawsuit.

Apple ( AAPL ) did not immediately respond to MT Newswire's request for comment.

Apple ( AAPL ) shares rose almost 2% in recent trading.

Price: 232.10, Change: +4.53, Percent Change: +1.99