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Update: Alphabet's Google Loses Legal Battle Against $2.65 Billion EU Antitrust Fine
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Update: Alphabet's Google Loses Legal Battle Against $2.65 Billion EU Antitrust Fine
Sep 11, 2024 12:19 AM

05:36 AM EDT, 09/10/2024 (MT Newswires) -- (Updates with the company's response in the last paragraph.)

Alphabet (GOOG, GOOGL) unit Google's ( GOOG ) appeal against a 2.4-billion-euro ($2.65 billion) penalty imposed by the European Commission in 2017 for anti-competitive practices was dismissed by the European Union's Court of Justice, according to a statement Tuesday.

The tech giant was fined for allegedly giving its own shopping recommendations an unfair advantage over smaller European rivals in search results, which led to a long-running antitrust case.

The Luxembourg-based court upheld a lower court's decision that endorsed the EU competition enforcer's fine in 2021, dismissing the company's appeal against the decision.

The Court of Justice said that EU law does not sanction the existence of a domination position but only its "abusive exploitation" that has the effect of hindering competition on the merits.

A Google ( GOOG ) spokesperson told MT Newswires that the company is disappointed with the outcome as it made changes back in 2017 to comply with the European Commission's decision.

Price: 150.03, Change: +0.49, Percent Change: +0.33

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