The chief executive officers of four of the largest technology companies in the United States will testify before the House Judiciary Committee on Wednesday as part of the legislators' ongoing antiturst probe, Politico reported. 

What Happened

The event was delayed due to a schedule clash with a memorial service for Rep. John Lewis (R-Ga), who died earlier this month.

The House Judiciary Committee had launched a bipartisan probe last year into alleged anticompetitive practices at large tech firms and had requested documents pertaining to mergers and acquisitions.

Why It Matters

The hearing comes at a time when antitrust allegations against the technology giants are mounting up.

Alphabet subsidiary Google separately faces allegations related to how its Android operating system and its Gmail service interacted with third-party apps and services to launch rival products, the Verge reported.

Price Action

Alphabet Class A shares closed nearly 0.6% lower at $1,508.21 and Facebook shares closed 0.8% lower at $230.71 on Friday. 

Amazon stock closed 0.75% higher at $3,008.91 per share and Apple stock 0.25% lower at $370.46 per share the same day.

Photo courtesy: U.S. Customs and Border Protection on Flickr