Home » today » News » Google: Guilty of monopolistic practices – The market reaction – 2024-08-08 02:19:26

Google: Guilty of monopolistic practices – The market reaction – 2024-08-08 02:19:26

Google, one of the giants of the Internet, was found guilty of monopolistic practices, a judge in Washington ruled today. Especially with regard to its search engine, since it has contractually imposed it as the default software on various devices.

According to the documents obtained by AFP, the judge estimated that “after carefully studying the testimony and evidence he came to the conclusion that Google is a monopoly and has acted to maintain that monopoly».

The fine to be imposed on her will be determined at the next meeting.

The group had been accused of paying tens of billions of dollars, up to $26 billion last year alone, to ensure the search engine would be the default software on some “smartphones” and web browsers. Most of this amount was given to the Apple company.

“The distribution deals signed by Google pre-empt a significant portion of the search engine market. And they deprive its competitors of opportunities to compete with it,” the judge ruled.

The stock of Alphabet, the parent company of Google fell to $160.64 on the New York Stock Exchange, down 4.61%.

The US Attorney General, Merrick Garlandin a statement he called the decision “historic victory for the American people». He emphasized that “no company is above the law».

Google declined to comment.

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