Google share price: Company looks to dismiss antitrust lawsuit in US

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on Dec 18, 2014
Updated: Feb 27, 2024
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iNVEZZ.com, Thursday, December 18, Google Inc (NASDAQ:GOOGL), the world’s largest software company, will try to convince a US judge today to dismiss an antitrust lawsuit over its Android smartphone operating system, Reuters has reported. The news comes at a time when the tech giant faces increased pressure from European regulatory institutions and authorities.

The hearing in San Jose’s district federal court follows proceedings filed by two smartphone users who accuse Google of forcing Android-based phone producers, such as Samsung and LG, to limit competing applications like Microsoft’s Bing search engine, partially by making Google’s own apps the default choice.
The company reasons in its court filings that the proposed class action ought to be dismissed since consumers are still free to use the competing applications. The plaintiffs counter that most users either do not know how to switch default settings, or do not want to go through the trouble of changing them.

If US District Judge Freeman allows the class action to proceed, the plaintiffs’ lawyers would be allowed to probe into internal company correspondence and communication with smartphone manufacturers, and may force Google directors to give testimony under oath.
Back in July, attorney Steve Berman said: “I’m confident we will get into juicy stuff, and I think that will up the pressure on Google as some of the material we discover becomes public”.

The Mountain View-based tech giant has recently fallen under scrutiny from various regulators across Europe. Last month the European Parliament (EP) voted in favour of urging antitrust regulators to consider breaking Internet search firms up Google share price: EU lawmakers back bill to break up Internet search firms . The resolution and the support it received sent a clear signal of Europe’s concern over Google’s 90-percent market share in the region.
In yesterday’s trading, Google shares closed up 1.92 percent at $504.89. The company’s stock has declined 9.59 percent since the start of the year. According to CNNMoney, the 42 analysts offering 12-month price forecasts for Google have a median target of $640.00, with a high estimate of $750.00 and a low estimate of $530.00. The current consensus among 48 polled investment analysts suggests that investors should buy shares in the company, the website notes.
As of 10:53 GMT, Thursday, 18 December, Google share price is $506.51.

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