The Justice Department has filed its long-awaited antitrust lawsuit against Google, alleging that the Big Tech Masters of the Universe engaged in anticompetitive practices to preserve its monopoly power and crush competitors to its search and advertising businesses. The Wall Street Journal first broke the story on Tuesday morning that the lawsuit would finally be filed.
According to a report by Reuters, the DOJ has filed its hotly-anticipated antitrust lawsuit against Google. 11 states also joined the DOJ action against the internet giant.
Reuters writes:
The U.S. Justice Department and 11 states filed an antitrust lawsuit against Alphabet Inc’s Google on Tuesday for allegedly breaking the law in using its market power to fend off rivals.
The lawsuit marks the biggest antitrust case in a generation, comparable to the lawsuit against Microsoft Corp filed in 1998 and the 1974 case against AT&T which led to the breakup of the Bell System.
Google, whose search engine is so ubiquitous that its name has become a verb, did not immediately respond to a request for comment. The company had revenue of $162 billion in 2019, more than the nation of Hungary.
The Reuters report confirms the news this morning from the Wall Street Journal that the Justice Department would file an antitrust lawsuit against tech giant Google today, claiming that the company engaged in anticompetitive practices in order to preserve monopolies in the search and advertising components that make up huge sections of the tech firm’s main business. – READ MORE
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