Philosopher Stefan Molyneux - who spent 15 years as a tech entrepreneur, building a successful environmental company - takes you through the history and current status of the anti-trust action brought against Google by the Department of Justice.
Google now faces its first antitrust lawsuit by the Federal government as the Department of Justice announced charges against the tech giant. Eleven Republican state attorneys general have joined the DOJ as plaintiffs. Google’s search and advertising businesses are key areas of interest for antitrust regulators.
The Justice Department filed its long-expected antitrust lawsuit against Google on Tuesday alleging the company has unlawfully maintained a monopoly in search by cutting off rivals from key distribution channels.
Eleven Republican state attorneys general have joined the DOJ as plaintiffs.
Google’s stock barely moved following news of the suit. Shares were up more than 2% during afternoon trading.
The DOJ and states are bringing the complaint under Section 2 of the Sherman Act, alleging Google has unlawfully maintained monopolies in markets for “general search services, search advertising, and general search text advertising.”
“Google is the gateway to the internet and a search advertising behemoth,” U.S. Deputy Attorney General Jeffrey Rosen said. “It has maintained its monopoly power through exclusionary practices that are harmful to competition.”
The states in the lawsuit are Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, South Carolina and Texas.
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