Google's CEO Sundar Pichai Admits Deleting Internal Chats Amid App Store Monopoly Lawsuit
Portfolio Pulse from Benzinga Neuro
Alphabet Inc.'s CEO Sundar Pichai admitted to inadvertently deleting internal chats, which is under scrutiny in a lawsuit by Epic Games alleging Google Play Store's monopolistic policies. Pichai testified that he didn't disable a setting that wiped chats after a day and sometimes labeled documents as 'privileged'. Epic Games sued Google in 2020 after 'Fortnite' was removed from the app store for bypassing Google's payment systems. The outcome of the lawsuit could significantly impact the app store industry, where Google and Apple have exclusive control and receive about 30% of in-app purchases.
November 15, 2023 | 2:23 am
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Alphabet Inc. is under legal scrutiny as CEO Sundar Pichai admitted to deleting internal chats related to an antitrust lawsuit by Epic Games. The lawsuit challenges the monopolistic practices of the Google Play Store and could lead to significant changes in app store policies if the jury rules against Alphabet.
The admission by Alphabet's CEO regarding the deletion of internal chats could negatively impact investor sentiment and the company's legal standing in the ongoing antitrust lawsuit. If the jury's decision is unfavorable for Alphabet, it could lead to significant operational and financial repercussions for the company, thus likely causing a short-term decline in stock price.
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