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Alphabet Stock Surges as Court Rules in Favor of Google
Alphabet Stock Surges as Court Rules in Favor of Google
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BTCCSquare news:
Alphabet shares jumped 8% after a U.S. federal judge rejected the Department of Justice's demand to break up Google's core products, including Chrome. The ruling avoids what investors feared WOULD be aggressive antitrust penalties.
Judge Amit Mehta called the DOJ's request for forced divestitures of Chrome and Android "overreach," stating Google hadn't used these assets to enforce illegal restraints. The decision marks a pivotal moment in the landmark antitrust case that began in September 2023.
While the court found Google violated monopoly laws in search and advertising, the limited restrictions imposed suggest regulators face an uphill battle in restructuring Big Tech. Both parties must finalize the judgment by September 10.
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