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Google to Spend $500mn on Compliance to Settle Shareholder Antitrust Suit
- In the summer of 2024, a federal judge in Washington ruled that Google engaged in anti-competitive conduct to unlawfully dominate the online search market.
- The Justice Department demanded remedies including divesting Google's Chrome browser and banning exclusivity agreements with smartphone makers for default search engine installs.
- Google proposed limited measures that allow pre-installing its Google Play store but not Chrome or its search engine, while opposing the remedies and data-sharing demands.
- Google stated on X that it remains convinced the Court’s initial ruling was incorrect and is preparing to challenge the decision through an appeal, while also criticizing the proposed remedies for their impact on consumers and the government’s control over user data.
- Following the conclusion of Friday’s hearing that wrapped up the trial over Google’s sanctions, the court’s ruling—which could have a major impact on the digital marketplace—is anticipated by August.
105 Articles
105 Articles
AppleInsider
machash.comGoogle commits $500 million to settle shareholder lawsuit
While the higher-profile DOJ antitrust lawsuit against Google continues, the company has reached a provisional settlement over similar accusations from its shareholders.The shareholders' case concerned Google's search business as well as othersThe Department of Justice continues to want Google to be broken up, and that case may be ruled on by August. But separately, shareholders led by two pension funds, took Google to court over antitrust viola…
Google has reached an agreement to spend $500 million within ten years in order to reform its compliance structure and thus resolve a shareholder lawsuit that accuses the company of antitrust violations. This preliminary agreement, according to the original report, was filed on Friday and now requires the approval of the U.S. District Judge Rita Lin in San Francisco. The amendment will include the creation of an independent committee on the boar…
Google to spend $500M to revamp compliance structure after shareholders seek ‘culture change’
Google agreed to spend $500 million over 10 years to overhaul its compliance structure, to settle shareholder litigation accusing the search engine company of antitrust violations, settlement papers show.
Google to spend $500 million revamping compliance in shareholder settlement
Google agreed to spend $500 million over 10 years to overhaul its compliance structure, to settle shareholder litigation accusing the search engine company of antitrust violations, settlement papers show.The preliminary settlement of so-called derivative litigation against officials at Google parent Alphabet,
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