- The U.S. Justice Department plans to slap a second anti-competitive lawsuit against Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ:GOOGL) over its digital advertising business, Bloomberg reports.
- The Trump government-led scrutiny into Google’s ad tech market dominance alleged exclusive distribution deals with wireless carriers and phone makers to thwart competition.
- A group of state attorneys alleged Google of conspiring with Facebook Inc (NASDAQ:FB) to manipulate the online auctions. It also became a subject of the DOJ investigation.
- Google had denied all the allegations citing Amazon.com Inc (NASDAQ:AMZN), Comcast Corp (NASDAQ:CMCSA), and Facebook’s market presence.
- Google owns significant pieces of the online ad market. It runs an ad-buying service for marketers, an ad-selling one for publishers, and a trading exchange that operates like online stock-trading platforms with an automated bidding process.
- The ad-tech products generated $23 billion in gross revenue for Google in 2020.
- Price Action: GOOG shares traded lower by 0.49% at $2,902.42 in the market session on the last check Thursday.
This Indian Businessman Just Overtook Bill Gates To Become World’s Fourth Richest Person
Last week, an Indian moved up the ladder of the billionaires’ list, and he is currently perched at the number four slot.
