Google faces £5 billion lawsuit in U.K. over alleged market abus

Investing.com
04-16

Investing.com -- Alphabet Inc’s (NASDAQ:GOOGL) Google is facing a class action lawsuit in the U.K., where it’s being sued for potential damages exceeding £5 billion ($6.6 billion).

The claim alleges that the U.S. tech giant has been abusing its near-total dominance in the online search market, which has resulted in increased prices.

The lawsuit, filed on Wednesday in the U.K. Competition Appeal Tribunal, alleges that Google has been using its dominant position to stifle competition from other search engines.

It claims this has strengthened Google’s market standing and established it as the sole viable platform for online search advertising.

According to the lawsuit, Google has been actively excluding competition by entering into contracts with phone manufacturers to pre-install Google Search and the Chrome browser on Android devices.

Additionally, the tech company has been paying Apple Inc (NASDAQ:AAPL) to ensure that Google Search is the default search engine on iPhones.

Related articles

Google faces £5 billion lawsuit in U.K. over alleged market abus

Discoverie stock rises following robust trading update despite lower sales 

Nvidia shares sink after AI darling flags $5.5 bn charge on U.S. chip export curbs

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10