Zinger Key Points
- Google faces three antitrust trials, with final rulings and appeals stretching into 2025.
- Meta and Amazon confront multi-year legal battles but maintain a strong defensive narrative.
The regulatory risk is ratcheting higher for mega-cap tech giants, with antitrust lawsuits and deadlines stacking up like dominoes.
From Alphabet Inc‘s GOOGL GOOG courtroom battles to Meta Platforms Inc META and Amazon.com Inc‘s AMZN looming trials, JPMorgan sees the regulatory landscape for mega-cap tech firms set to intensify in 2025. Here's a chronological look at what's brewing, focusing on some of the pivotal antitrust cases and decisions spanning the next two years.
Google: The DOJ's Prime Target
Alphabet’s Google is in the crosshairs with three antitrust lawsuits.
- Jan. 24, 2023: The DOJ sued Google for monopolizing digital advertising technologies. The suit targets Google's ad-tech empire.
- Nov. 20, 2024: the DOJ proposed remedies to curb Google's dominance in search and advertising. Recommendations include divesting Chrome, revealing search query data, and stopping payouts to distributors like Apple Inc AAPL.
- Dec. 20, 2024: Google filed its counterproposals ahead of a spring trial. Final rulings are expected by August 2025, with the tech giant planning to appeal.
The stakes are high, with divestitures and sweeping behavioral remedies on the table, but Google's playbook includes appeals and push for its ecosystem's indispensable value.
Read Also: Meta’s Facebook, Instagram Ads Promote Illegal Gun Silencers: Report
Meta: Antitrust, Privacy Woes
Meta Platforms isn't immune to scrutiny, but JPMorgan sees a low probability of a breakup.
- Dec. 9, 2020: The U.S. government and 48 attorneys general filed antitrust lawsuits accusing Facebook, led by CEO Mark Zuckerberg, of operating as an unlawful monopoly.
- June 28, 2021: A Federal judge dismissed claims that Facebook holds a social networking monopoly, citing insufficient evidence, and ruled the states’ case was filed too late.
- Aug. 19, 2021: The FTC refiled a bolstered version of its antitrust case against Meta (formerly Facebook).
- Nov. 13, 2024: Judge James Boasberg allowed the FTC’s claim that Meta overpaid for Instagram and WhatsApp to stifle competition to proceed to trial. He, however, dismissed allegations of restricting third-party developers. Trial date is set for April 14, 2025.
- Meta faces fallout from its "pay or consent" advertising model in the EU and a $1.4 billion settlement over facial recognition privacy in Texas. Regulatory headaches continue as courts reexamine a 2019 FTC ruling on user data practices.
Amazon: The Long Haul
Amazon is prepping for a marathon legal battle with the FTC.
- Sep. 26, 2023: FTC sues Amazon, accusing it of illegally maintaining monopoly power. The FTC and 17 state attorneys general aim to dismantle Amazon's retail dominance, alleging the company blocks competition and inflates prices. Specifially the suit targets Amazon’s online stores and third party seller services. The trial is set for Oct. 13, 2026.
- A separate FTC lawsuit targeting Prime's enrollment practices heads to trial on June 9, 2025.
Amazon argues its marketplace empowers third-party sellers and consumers and said the FTC overstates Amazon’s market influence.
What Else Is On The Docket?
Beyond these high-profile cases, regulators have their sights set on TikTok, which faces a Jan. 19 divestiture deadline, Apple and other gig economy players.
Labor reforms, European antitrust laws and generative AI governance are also heating up, JPMorgan notes.
Read Next:
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
