Skip to main content

Market Overview

Google's Antitrust Probe Meeting Reportedly To Take Place Next Month

Share:
Google's Antitrust Probe Meeting Reportedly To Take Place Next Month

A group of state attorneys general in the United States investigating Google’s parent company Alphabet Inc. (NASDAQ: GOOG) for antitrust activities will hold a meeting in Colorado next month, according to a Reuters report.

Google’s digital advertising practices are a focus of the meeting, one of the sources told Reuters. The group includes representatives from all the states, except California and Alabama. Attorneys general for Puerto Rico, the District of Columbia, and Guam are also part of the group.

What Happened

The investigation began in September, led by two bipartisan groups of state attorneys general, each launching separate antitrust probes into Google and Facebook Inc. (NASDAQ: FB). Texas Attorney General Ken Paxton is in charge of the Google investigation, while New York Attorney General Letitia James manages the Facebook investigation. 

Paxton has since subpoenaed Google, asking more than 200 questions and demanding records regarding how and why its advertising business has become so massive. The office of Texas attorney general confirmed Google started responding to the requests earlier this month, according to Reuters.

What's Next

Google, along with Amazon.com Inc. (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL) is also being investigated by the U.S. Justice Department for potential antitrust practices.

A separate bipartisan group of U.S. lawmakers is pushing a bill that could force Big Tech to open up user data to small competitors, with the expectation that such law would spur competitive innovations.

Alphabet stock lost 0.25% and closed at $1,241.20 per share on Tuesday, Oct.22. 

 

Related Articles (AAPL + AMZN)

View Comments and Join the Discussion!

Posted-In: Colorado New York Attorney GeneralGovernment News Regulations Events Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com