Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Google loses antitrust case over search

by admin August 7, 2024
August 7, 2024
Google loses antitrust case over search

A federal U.S. judge ruled Monday that Google has illegally held a monopoly in two market areas: search and text advertising.

The landmark case from the government, filed in 2020, alleged that Google has kept its share of the general search market by creating strong barriers to entry and a feedback loop that sustained its dominance. The court found that Google violated Section 2 of the Sherman Act, which outlaws monopolies.

The ruling marks the first anti-monopoly decision against a tech company in decades.

“Google is a monopolist, and it has acted as one to maintain its monopoly,” Judge Amit Mehta of the U.S. District Court for the District of Columbia wrote in the decision.

Google CEO Sundar Pichai in 2023.Boris Streubel / Getty Images for DFB

The Department of Justice and a bipartisan group of attorneys general from 38 states and territories, led by Colorado and Nebraska, filed similar but separate antitrust suits against Google in 2020. The suits were combined for pretrial purposes, such as discovery of evidence.

Attorney General Merrick Garland called the decision a “historic win for the American people.”

“No company — no matter how large or influential — is above the law,” Garland wrote in a statement. “The Justice Department will continue to vigorously enforce our antitrust laws.”

In its ruling, the court homed in on Google’s exclusive search arrangements on Android and Apple’s iPhone and iPad devices, saying that they helped to cement Google’s anticompetitive behavior and dominance over the search markets.

General search services, according to the court, applies to Google’s core search engine, where it traditionally competed with Yahoo. General search text advertising refers to the text ads that run alongside search results. The court ruled that in both of those areas, Google has operated as a monopoly. However, the ruling found that general search advertising is not a market so there can be no monopoly control.

Kent Walker, Google’s president of global affairs, said in a statement that the company plans to appeal the ruling. He highlighted the court’s emphasis on the quality of Google’s products.

“This decision recognizes that Google offers the best search engine, but concludes that we shouldn’t be allowed to make it easily available,” Walker wrote. “As this process continues, we will remain focused on making products that people find helpful and easy to use.”

Alphabet shares fell more than 4% on Monday, dragged down by a broad decline in stocks worldwide.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
DP Trading Room: Bear Market Rules Apply
next post
Elon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeover

Related Posts

Spirit AeroSystems to furlough 700 workers as Boeing...

October 22, 2024

Pending home sales in April slump to lowest...

June 1, 2024

Willow Bay and Bob Iger to take controlling...

July 19, 2024

The ‘absolute worst’ of times for car buying...

May 26, 2024

Macy’s says employee hid up to $154 million...

November 26, 2024

Google’s second antitrust trial could help shape the...

September 7, 2024

Presidential debate drew 51.3 million viewers, down from...

July 1, 2024

Dow closes at record high above 40,000 to...

May 19, 2024

Novo Nordisk to build $4.1 billion North Carolina...

June 27, 2024

Fox reveals plans to launch subscription streaming service...

February 6, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • This July 4th, a family waits: American hostage’s father pleads for son’s freedom from Hamas terrorists

      July 5, 2025
    • Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

      July 5, 2025
    • CoTec Holdings Corp. Announces Second Closing of Life Offering and Concurrent Private Placement

      July 5, 2025
    • Hempalta Secures 90-Day FCC Forbearance Extension as Company Completes Certification of 2024 Carbon Credits

      July 5, 2025
    • BTV Highlights: North American Iron, West Red Lake Gold Mines, Northisle Copper and Gold, Westport Fuels, US Gold, Orvana Minerals, Avino Silver & Gold, Pasofino Gold, & Mayfair Gold

      July 5, 2025

    Categories

    • Business (1,012)
    • Investing (2,541)
    • Politics (3,147)
    • Stocks (1,116)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved