Department of Justice Considers Breaking Up Google
Aug 14, 2024 By MarketDepth
Alphabet Inc (GOOG) has recently been tied up in an antitrust lawsuit which wrapped up last month which saw Google lose stating they monopolize online search. This is a big loss for the company as it opens them up to probes from the department of justice which is happening now. Assistant Attorney General states that the company could be broken up to ensure fairness in the market.
“I think the case is very strong. You know, it’s the equivalent of a criminal trial where the jury has come back and found all sorts of bad conduct on Google’s behalf. And now we’re at really the sentencing phase. It’s a civil case, so it’s the remedy. How do you restore a market that Google has monopolized for decades and ensure fair competition?”
Assistant Attorney General Of AntiTrust Divison Bill Baer
Google is down on the news over 3% intraday with this causing a major issue for the companies operations. Many options have been thrown around for the company which include providing user data to other search engines, separating certain businesses plus many others. Bill Baer says that for this to be an effective case they would need to so something significant to break up the monopoly. This is unfortunate news for Google as they have tried to battle the negative news but only time will tell what the result will be.
