Alphabet Stock Jumps After Chrome Sale Avoidance
Here’s a breakdown of the key facts from the provided text:
Company: alphabet Inc. (NASDAQ:GOOG)
Stock Performance: Share prices increased by 9.01% on Wednesday, closing at $231.1 apiece.
Reason for Increase: A court ruling prevented the company from being forced to divest its Google Chrome search engine.
Legal Case: The Department of Justice (DOJ) filed an antitrust lawsuit against Alphabet in 2020, alleging monopolization of search and search advertising markets (violating the Sherman Antitrust Act of 1890).
Court Ruling: Judge Amit Mehta ruled in August 2024 that google did abuse its monopoly on search. though, he did not order a divestiture of Chrome.
Timeline:
Lawsuit filed: 2020
Trial began: september 2023
Ruling on monopoly abuse: August 2024
DOJ request to divest Chrome: Three months after August 2024 ruling.
Source of Image: Photo Mix from Pixabay.
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