- Google and its parent Alphabet Inc GOOG GOOGL faced a class action lawsuit in London’s U.K. Competition Appeal Tribunal over alleged antitrust abuses.
- Google and its parent drew a group claim by 130,000 businesses over its approach to advertising that may have cost companies billions of pounds in lost revenue, Bloomberg reports.
- The claim accused Google and its parent of abusing their dominant position in online advertising and “earning super-profits for itself at the expense of the tens of thousands of publishers of websites and mobile apps in the U.K.”
- Also Read: Google Under DOJ Scanner For Splurging To Maintain Search-Engine Dominance
- “None of these regulatory actions will do anything to compensate the U.K. publishers of thousands of websites and mobile apps who have lost billions in advertising revenue because of Google’s actions,” Toby Starr, a partner at law firm Humphries Kerstetter, who represents some of the claimants said.
- Potential U.K. damages, based on estimates from possible losses, could run into the low tens of billions, according to the claimants.
- The U.K. challenge would add to the scrutiny Google already faces in the EU, which could cost the company a hefty sum.
- Price Action: GOOG shares traded higher by 1.13% at $96.52 on the last check Wednesday.
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