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GOOGL / Google hit with multibillion-dollar class-action lawsuit over online ad dominance in the U.K.

Alphabet Inc.'s GOOGL, +3.39% GOOG, +3.44% Google has been sued for £13.6bn ($16.3 billion) over claims its dominance of the digital-advertising market has amassed "super profits" at the expense of hundreds of thousands of websites and mobile apps in the U.K. The class-action lawsuit, filed Wednesday in the Competition Appeals Tribunal in London, is being brought on behalf of 130,000 businesses that carry online banner ads. A Google spokesman said the company "works constructively with publishers across Europe -- our advertising tools, and those of our many adtech competitors, help millions of websites and apps fund their content, and enable businesses of all sizes to effectively reach new customers. Read More

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Posted: Nov 30 2022, 13:57

Author Name: Market Watch

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