Antitrust Lawsuit Filed Against Google for US Mobile Online Search

Google, a global technology enterprise, became Google, Inc. on October 22, 2002. Its primary business structure involves online search and advertising, with online advertising being its main revenue source. The company also generates revenue selling hardware products by Motorola.

This search mogul provides services and products in over 50 territories, regions and countries, in over 100 different languages. The company’s main competition within it market includes: Amazon.com, Inc., eBay Inc., Microsoft Corporation, Yahoo! Inc., Twitter Inc. and Facebook, Inc. Google trades under the GOOG Stock Symbol.

Last week, in Google Stock news, Hagens Berman, a law firm specializing in consumer rights, announced that it filed a lawsuit against Google. This anti-trust, nationwide class-action suit alleges that Google, Inc. illegally monopolized the US mobile and Internet search markets. It’s now affecting Google Stock Share Price.

It is alleged that this monopoly was expanded when the company preloaded apps on Android devices. This was done through Google’s Mobile Application Distribution Agreements. The company’s role in the apps placements, including YouTube and Google Play, has hindered the market. And, according to the lawsuit, this has caused prices of competitive devices such as those manufactured by HTC Corp and Samsung Electronics to remain high. Since the filing, price of google stock has decreased.

The attorney in charge of representing consumers, Steve Berman, spoke on the matter. He alleges that Google was able to monopolize this market through manipulation and anti-competitive placement, as opposed to improved search engine offerings.

GOOG Stock Price Today on NASDAQ Stock Exchange Global Select Market is currently $518.00, representing a decrease of $4.57 or 0.87% since yesterday’s closing. Today’s high peaked at $524.29. Which direction the stock will go remains to be seen. Experts are waiting on the outcome of the class-action lawsuit before analyzing the situation.