Alphabet (GOOGL) Stock Slides Following UK Lawsuit
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Alphabet Stock (GOOGL) is trending downward after a new lawsuit was filed against Google in the UK. The tech giant is accused of abusing its dominance in the online search market, leading to a multi-billion-pound class action lawsuit. The claim, filed on behalf of British businesses, alleges that Google leveraged its near-total control to inflate ad prices by limiting competition. The legal complaint also claims Google paid Apple billions to remain the default search engine on Safari and struck deals with Android phone makers to pre-install Google Search and Chrome.
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