- A law firm proposed claims for damages of up to 25 billion euros on behalf of publishers alphabet inc WELL Google Google over its digital advertising practices in two lawsuits filed in UK and Dutch courts, Reuters reported.
- Google’s ad tech has come under scrutiny from antitrust authorities following complaints from publishers.
- The French competition regulator imposed a fine of 220 million euros in 2021, while the European Commission and its British competitor investigates whether Google’s adtech business exploited its influence over competitors and advertisers.
- The UK actions before the UK Competition Appeal Tribunal aim to recover compensation for lost revenue from the sale of advertising space on news publishers’ websites and all websites funded by online advertising.
- The Dutch claim is open to publishers affected by Google’s actions. Litigation funder Harbor is funding both lawsuits.
- The US Department of Justice sought charges Google by September for illegally dominating the digital advertising market.
- Recently, the Trump administration-led probe into Google’s dominance of the adtech market allegedly put forward exclusive distribution deals with wireless carriers and phone manufacturers to thwart competition.
- Senator Amy Klobuchar has accuses a “Incredible cash rush” against a landmark antitrust law to test the power of US big tech companies prevented the law from passing.
- Google held $125 billion Cash and Equivalents from June 30th.
- Price promotion: GOOG shares traded up 0.62% to $112.56 in the premarket session on the latest check Tuesday.
- Photo by succo from Pixabay
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