your current location is:Home > Finance > NewsletterHomeNewsletter
Google's advertising business sued by publishers for $25.4 billion
Google today faced two lawsuits, accused of its digital advertising business harming the interests of publishers, claims up to 25 billion euros (about 25.4 billion US dollars).
The law firm Geradin Partners, which represents publishers' interests, filed two lawsuits against Google in British and Dutch courts on Tuesday, alleging that its digital advertising business practices harmed publishers' interests.
Damien Geradin, founder of law firm Damien Geradin, said: "It is time for Google to take responsibility and pay for the damage it has caused to this important industry. Jurisdictions have taken action to seek compensation for publishers in the EU and UK."
As early as last June, the European Union announced an investigation into Google's online advertising business to assess whether it violated the EU's fair competition law. The European Commission said at the time that the investigation was aimed at assessing whether Google used technical means to suppress rivals in online advertising. The EU investigation focused on whether Google distorted market competition by restricting third-party companies' access to user data while keeping it for its own use.
European Union Antitrust Commissioner Margrethe Vestager said at the time that Google both collects advertising data, sells ad space and acts as an online advertising intermediary, present in almost every link in the online advertising supply chain. This makes it difficult for competitors in the online advertising services space to compete fairly.
Last year, France fined Google 220 million euros for abusing its dominance of the online advertising market. In 2020, Google earned $147 billion from online advertising, more than any other company in the world.
related articles
Article Comments (0)
- This article has not received comments yet, hurry up and grab the first frame~