According to a Reuters report, Google parent Alphabet (NASDAQ: GOOG, GOOGL) will refrain from filing a motion to dismiss a U.S. government lawsuit filed last month but will fight it in federal court.
The U.S. Justice Department sued the $1.2 trillion market cap company in October, accusing it of illegally using and maintaining “monopolies through anticompetitive and exclusionary practices” in the search and search ad markets.
The report also said that the search giant — referred by the U.S. Attorney General William Barr as the “Gatekeeper of the Internet” — would file an answer to the government’s antitrust lawsuit before December 21.
Reuters noted that both sides had not been able to reach an agreement on how to protect confidential information that was given to the government by third parties, and that they would file statements on their positions by November 13.
Price Action
Shares of the Mountain View, Calif.-based conglomerate were up 36 points, or 2.05 percent, in pre-market trading at $1,797.87 as of 4:30 a.m. est.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply