Google is facing a class action lawsuit in the U.K. seeking GBP 5B in potential damages over allegations the company abused its “near-total dominance” in the online search market to drive up prices, CNBC’s Ryan Browne reports, citing the suit. The lawsuit, brought by Or Brook on behalf of hundreds of thousands of U.K.-based organizations that used Google’s search advertising services, claims the company abused its position to restrict competing search engines and bolster its dominant position in the market, making itself the only viable destination for online search advertising.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOG:
- Oppenheimer bullish on Reddit, initiates with an Outperform
- YouTube to be exempt from Australia social media ban, Bloomberg reports
- Alphabet’s Strategic Positioning and GenAI Disruption: A Buy Rating Justification
- Zuckerberg Admits He Bought Instagram (META) Because Its Camera Was Better
- Google says Gemini Advanced users can now generate videos with Veo 2