- Alphabet Inc GOOG GOOGL Google proposes to argue Thursday the U.S. Justice Department's alleged breach of antitrust law to build and maintain its search dominance.
- It intends to request the judge to dump the flawed allegations.
- Google has argued in court filings that the payments are legal and revenue-sharing deals and not illegal efforts to exclude rivals, Reuters reports.
- The lawsuit dating back to the Trump administration, will likely defend its complaint, which said that Google acts illegally in paying billions of dollars each year to smartphone makers like Apple Inc AAPL, LG Electronics Inc LGEIY LGEJY, Motorola Solutions, Inc MSI and Samsung Electronics Co, Ltd SSNLF, carriers like Verizon Communications Inc VZ and browsers like Mozilla to be the default search for their customers.
- Also Read: Google's ChatGPT Gambit: Sundar Pichai Announces AI Chatbot for Search Engine
- The case will go to trial in September.
- Google's motion marks its latest attempt to eliminate several costly and time-consuming lawsuits from state and federal governments aimed at reining its market power.
- The DOJ prosecuted Google in 2020 for exploiting its influence to eliminate rivals in the biggest challenge to Big Tech since it sued Microsoft Corp MSFT for anti-competitive practices in 1998.
- Since the DOJ filed this lawsuit, Google drew other antitrust complaints involving dominance of the digital advertising business and play store.
- Price Action: GOOG shares traded higher by 0.40% at $105.64 in the premarket on the last check Thursday.
- Photo by Firmbee via Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in