(CercleFinance.com) – The United States announced last night that they were going to sue Alphabet, the parent company of Google, because of its monopoly position in the online advertising market, an announcement that stumble the title of more than 3% this Wednesday on the New York Stock Exchange.
The Department of Justice accuses the technology group of having pursued, over the past 15 years, an anti-competitive policy aimed at ousting its rivals in advertising technologies, in particular through acquisitions.
The DoJ also accuses Google of having abused its dominant position to force publishers and advertisers to use its products and of having hindered the use of competing products.
‘Google now controls the digital tool that equips almost all website publishers seeking to sell advertising on their site’, sums up the American administration.
In its statement, the Department of Justice specifies that these lawsuits differ from the civil complaint filed in 2020 for a monopolistic position in Internet research, a case which is expected to go to trial in September 2023.
Following this announcement, Alphabet ‘A’ shares fell 3.6% on Wednesday an hour after opening, marking one of the largest declines in the Nasdaq 100 index.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
