Hopefully, they will win the lawsuit. Indeed it is unfair to the developers, participants and all the other people involved in ICOs to ban advertisement on such popular platforms as Facebook, Google, Twitter and Yandex. It's a known fact that without promotion no business can survive nowadays, so they are literally trying to kill the ICO business by those restrictions.
I'm not trying to say that ICO scams should not be banned, but banning all the ICO ads is not how it should be done in the free world.
There's no way they will win this lawsuit, they're a small fish compared to those companies, plus governments are pretty suspicious of cryptocurrencies. On top of that, those companies are free to decide what ads they show to their users, I don't see anything illegal in refusing to work with certain customers (ICO's and crypto services).
What would really be nice though is if search engines stopped giving ad space for phishing sites that mimic exchanges and wallets, since newbies are easily getting tricked by them.Exactly. It would have been far better if they had been working on that rather than banning all crypto ads indiscriminately. If there are bad players ban them from the game, but don't try to end the game entirely because the game will continue as it belongs to the future, only you will be out of the game.
Regardless of whether they will win the lawsuit or not, Facebook, Google, Twitter and Yandex will lose in the long run unless they change their mind.