The Securities & Exchange Commission Tuesday evening published an 8-K filing by Google in which the company rejected the U.S. Department of Justice’s anti-trust case against the company, saying it is “without merit.”
The DOJ on Tuesday morning filed sued against Google, saying that the company is illegally maintaining a monopoly over online search services and related advertising in the quest for profit, and as such, rival companies are being denied the opportunity to compete effectively.
Said Google in the filing,
In August 2019, Google LLC (“Google”), a wholly-owned subsidiary of Alphabet Inc., began receiving civil investigative demands from the U.S. Department of Justice (“DOJ”) and a group of state Attorneys General requesting information and documents relating to its prior antitrust investigations and certain aspects of its business. On October 20, 2020, the DOJ, joined by 11 state Attorneys General, filed an antitrust complaint against Google in the United States District Court for the District of Columbia, alleging that Google violated U.S. antitrust laws relating to Search and Search advertising. Google believes this complaint is without merit and will defend itself vigorously.
The DOJ and state Attorneys General continue their investigations into certain aspects of Google’s business.
The DOJ’s suit follows a report by the anti-trust subcommittee of the Judiciary Committee of the U.S. House of Representatives https://www.zdnet.com/article/u-s-house-subcommittee-proposes-imposing-structural-requirements-on-google-amazon-et-al-over-anti-trust-concerns/ that outlined measures taken by Google to exploit its dominance in the paid Internet search market by shutting out rivals.
Google shares ended Tuesday’s session up 1.4% at $1,551.08.
