TECH - Google Faces $2.3B Lawsuit from European Media Over Ad Practices | Benzinga
Alphabet Inc’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google faces a massive 2.1-billion-euro lawsuit from 32 media groups, including Axel Springer and Schibsted.
The plaintiffs accused the tech giant of inflicting financial losses through its digital advertising practices.
The lawsuit highlights Google’s alleged market dominance abuse, suggesting that without such practices, these media companies would have earned significantly more from advertising and paid less for ad tech services, Reuters reports.
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This legal action, filed in a Dutch court for its strategic importance in antitrust damage claims in Europe, reflects broader industry concerns over Big Tech’s grip on advertising revenues.
The move ...