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GOOGL.US
id: 623

Alphabet (GOOGL) Antitrust Case

N.D. California
Court
3:23-cv-01186
Case number
04 Feb 2020
Class period Start
23 Jan 2023
Class period End
15 May 2023
Lead Plaintiff motion deadline
  • DOJ & 8 states filed an antitrust lawsuit against, accusing Google of illegally abusing its dominance in digital advertising.
  • $GOOGL price fell 2.09%, damaging Investors.
  • Investors suspect Alphabet & its Leaders of misleading.
On January 24, 2023, the U.S. Department of Justice and 8 states filed an antitrust lawsuit against Alphabet’s Google subsidiary, accusing Google of illegally abusing its dominance in digital advertising and violating the Sherman Antitrust Act.

The lawsuit alleges, among other things, that “Google abuses its monopoly power to disadvantage website publishers and advertisers who dare to use competing ad tech products in a search for higher quality, or lower cost, matches.”

On this news, $GOOGL price fell 2.09%, damaging Investors.
  • In recent years, Google’s dominance in this industry has drawn regulatory scrutiny. In July 2018, the European Commission fined Google €2.42 billion for promoting its own shopping comparison service at the top of its search results.
  • Less than a year later, in March 2019, the EC fined Google €1.49 billion for preventing rivals from being able to “compete and innovate fairly” in the online advertising market. In June 2019, the U.S. Department of Justice (“DOJ”) reported that it would investigate Google for antitrust violations.
  • In October 2020, the DOJ filed an antitrust lawsuit against Google, alleging that it had abused a monopoly position in the search and search advertising markets.
Taking all representations facts and lawsuits into account, Investors have reasons to suspect Alphabet & its Leaders of misleading that led to investment losses for shareholders.

Specifically, Investors may suspect that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
  1. Alphabet used its dominance in the field of digital advertising to disadvantage website publishers and advertisers who used competing advertising products;
  2. The foregoing conduct was anticompetitive in nature and likely to draw significant regulatory scrutiny;
  3. Alphabet’s revenues were unsustainable to the extent that they were the product of said anticompetitive conduct;
  4. Alphabet’s conduct, once revealed, would negatively impact the Company’s reputation and expose it to a heightened risk of litigation and regulatory enforcement action;
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements
Failure to Disclose
Malpractice
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
24 January 2023
Filing date
16 March 2023
Lead Plaintiff Deadline
15 May 2023
Judge
Hon. Yvonne Gonzalez Rogers
Collecting participants…

Alphabet Inc Class A

Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google C...

    Ticker
    GOOGL.US
    ISIN
    US02079K3059
    CIK
    1652044
    Sector
    Communication Services
    Industry
    Internet Content & Information
    Country
    USA
    Address
    1600 Amphitheatre Parkway, Mountain View, CA, United States, 94043