Justice Department And State AGs To Share Information In Google Antitrust Probe

The United States Department of Justice attorneys are meeting state attorney generals next week to share information in their probe against Alphabet Inc. (NASDAQ: GOOGL ) (NASDAQ: GOOG ) subsidiary Google, ... Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The United States Department of Justice attorneys are meeting state attorney generals next week to share information in their probe against Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) subsidiary Google, the Wall Street Journal reported Sunday.” data-reactid=”18″>The United States Department of Justice attorneys are meeting state attorney generals next week to share information in their probe against Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) subsidiary Google, the Wall Street Journal reported Sunday.

What Happened

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Justice Department started laying the groundwork for the antitrust probe against the search engine giant in June last year.” data-reactid=”20″>The Justice Department started laying the groundwork for the antitrust probe against the search engine giant in June last year.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The state attorney generals launched their own probes against Google and social media behemoth Facebook Inc. (NASDAQ: FB) in September, the Journal reported at the time. The Google probe is led by Texas attorney general Ken Paxton, a Republican.” data-reactid=”21″>The state attorney generals launched their own probes against Google and social media behemoth Facebook Inc. (NASDAQ: FB) in September, the Journal reported at the time. The Google probe is led by Texas attorney general Ken Paxton, a Republican.

The meeting next week, which will see at least seven state attorney generals participating, could expand into regular cooperation, and the two groups could ultimately join forces, people familiar with the matter told the Journal.

Partisan political troubles could arise between the Democratic and Republican lawyers, the Journal noted, possibly hurting this anticipated collaboration, which is likely to spell greater trouble for Google.

The authorities are probing whether Google misuses its internet dominance to snub rivals in competing services. The company’s advertising, search, and mobile operating system businesses are under investigation.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Other tech giants, including Amazon.com Inc. (NASDAQ: AMZN) Apple Inc. (NASDAQ: AAPL) are also facing Justice Department and House Judiciary Committee investigations for alleged antitrust practices.” data-reactid=”25″>Other tech giants, including Amazon.com Inc. (NASDAQ: AMZN) Apple Inc. (NASDAQ: AAPL) are also facing Justice Department and House Judiciary Committee investigations for alleged antitrust practices.

Price Action

Alphabet Class A shares closed 1.25% lower at $1,466.17 on Friday.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”34″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.