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| Name | Google: Today's lawsuit by the DOJ is deeply flawed |
| Video Uploader | Video From CNBC Television |
| Upload Date | This Video Uploaded At 20-10-2020 15:23:04 |
| Video Discription | The Justice Department has filed an antitrust lawsuit against Google. CNBC's Ylan Mui reports the latest on the complaint and Google's brief response to the lawsuit. They are expected issue a fuller response later today. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi The Department of Justice filed its long-awaited antitrust lawsuit against Google on Tuesday alleging the company has unlawfully maintained a monopoly in search by cutting off rivals from key distribution channels. Eleven Republican state attorneys general have joined the DOJ as plaintiffs in the case: Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, South Carolina and Texas. Google’s stock barely moved following news of the suit. Shares remained slightly positive as of Tuesday morning, though they lost steam once the filing went public. The DOJ and states are bringing the complaint under Section 2 of the Sherman Act, alleging Google has unlawfully maintained monopolies in markets for “general search services, search advertising, and general search text advertising,” according to the lawsuit. They claim Google has maintained its monopoly through “anticompetitive and exclusionary practices.” The lawsuit is the culmination of a more than year-long investigation into the company’s business practices. It’s the most significant antitrust lawsuit since the Justice Department sued Microsoft in the 1990s alongside a coalition of state enforcers. Google was previously the subject of a U.S. antitrust investigation by the Federal Trade Commission over its search product, but the agency closed that probe in 2013 without charges. A leaked document published by The Wall Street Journal later showed staff had recommended bringing a case on several grounds. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-credit-cards/ #CNBC #CNBCTV R0GU-hfm7-0 |
| Category | News & Politics |
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