Google Hit With $2.3B Lawsuit By Axel Springer, Other Media Groups
Alphabet’s Google was hit with a 2.1-billion-euro ($2.3 billion) lawsuit by 32 media groups including Axel Springer and Schibsted on Wednesday, alleging that they had suffered losses due to the company’s practices in digital advertising.
The move by the group which include publishers in Austria, Belgium, Bulgaria, the Czech Republic, Denmark, Finland, Hungary, Luxembourg, the Netherlands, Norway, Poland, Spain and Sweden comes as antitrust regulators also crack down on Google’s ad tech business.
“The media companies involved have incurred losses due to a less competitive market, which is a direct result of Google’s misconduct,” a statement issued by their lawyers Geradin Partners and Stek said.
Popular Today
- Merck to Settle Bulk of Gardasil Suits for About $50 Million
- PE Founder Constantino Ran Firm in ‘Drunken Haze,’ Ex-COO Says in Lawsuit
- BASF Warns Iran War Could Trigger Supply Chain Disruption for Carmakers
- Revlon Fails to Ensure Some Products Are Safe, FDA Warns
Popular This Month
- The Adjuster’s Year Ahead: What AI Will and Won’t Change About the Job
- Why Toyota RAV4s Are Suddenly the Most Coveted Used Cars in America
- ‘Big Tobacco’ Moment for Cannabis: What Insurers Need to Know About Murray v. Cresco
- Insurance Attorneys Flip $1M Hail Claim into Nearly $2M Suit for Contractor Interference