Google Could Dodge Massive Payout As Judge Reverses Class-Action Status For 21M Users
Portfolio Pulse from Ananya Gairola
A federal judge has reversed the class-action status for 21 million users in an antitrust lawsuit against Google, potentially saving the company from substantial payouts. The lawsuit alleges that Google Play has abused its control over Android mobile applications, leading to users being overcharged for app purchases. The issue of class-action status is pending before a federal appeals court. Google is still set to face a trial on Nov. 6, with antitrust claims brought forward by Epic Games, state attorneys general representing nearly 70 million consumers.
August 29, 2023 | 4:23 am
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POSITIVE IMPACT
Google could potentially avoid substantial payouts as a federal judge reverses class-action status for 21 million users in an antitrust lawsuit.
The reversal of the class-action status could significantly reduce the potential financial blow to Google. However, the issue is still pending before a federal appeals court and Google is set to face another trial on Nov. 6.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Alphabet Inc., Google's parent company, could potentially avoid substantial payouts as a federal judge reverses class-action status for 21 million users in an antitrust lawsuit.
The reversal of the class-action status could significantly reduce the potential financial blow to Alphabet Inc., Google's parent company. However, the issue is still pending before a federal appeals court and Google is set to face another trial on Nov. 6.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Apple Inc. also faces multiple antitrust lawsuits over its App Store fees in the U.S.
Apple Inc. is also facing multiple antitrust lawsuits over its App Store fees in the U.S. This could potentially have a negative impact on the company's financials and reputation.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50