Lawsuit filed for Investors who lost money with Alphabet Inc. (NASDAQ: GOOG, NASDAQ: GOOGL)

An investor, who purchased shares of Alphabet Inc. (NASDAQ: GOOG, NASDAQ: GOOGL), filed a lawsuit over alleged violations of Federal Securities Laws by Alphabet Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Alphabet Inc. (NASDAQ: GOOG, NASDAQ: GOOGL), have certain options and for certain investors are short and strict deadlines running. Deadline: May 15, 2023. NASDAQ: GOOG, NASDAQ: GOOGL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Alphabet Inc. is a multinational technology conglomerate holding company. It was created through a restructuring of Google Inc. in October 2015, at which point Alphabet Inc. became the parent company of Google and several former Google subsidiaries. Alphabet is headquartered in Mountain View, California and incorporated in Delaware. The Company's Class A and Class C shares trade on the NASDAQ under the ticker symbols "GOOGL" and "GOOG," respectively.
Alphabet's subsidiary Google is a dominant player in the field of digital advertising, to the extent that it controls the digital tools that every major website publisher uses to sell advertising space on their websites.
In recent years, Google's dominance in this industry has drawn regulatory scrutiny. In July 2018, the European Commission ("EC") fined Google €2.42 billion for promoting its own shopping comparison service at the top of its search results. Less than a year later, in March 2019, the EC fined Google €1.49 billion for preventing rivals from being able to "compete and innovate fairly" in the online advertising market. In June 2019, the U.S. Department of Justice ("DOJ") reported that it would investigate Google for antitrust violations. Then, in October 2020, the DOJ filed an antitrust lawsuit against Google, alleging that it had abused a monopoly position in the search and search advertising markets.

On January 24, 2023, the U.S. Department of Justice and eight states filed an antitrust lawsuit against Alphabet's Google subsidiary, accusing Google of illegally abusing its dominance in digital advertising and violating the Sherman Antitrust Act. The lawsuit alleges, among other things, that "Google abuses its monopoly power to disadvantage website publishers and advertisers who dare to use competing ad tech products in a search for higher quality, or lower cost, matches."

The plaintiff claims that between February 4, 2020 and January 23, 2023, the Defendants made false and/or misleading statements and/or failed to disclose that Alphabet used its dominance in the field of digital advertising to disadvantage website publishers and advertisers who used competing advertising products, that the foregoing conduct was anticompetitive in nature and likely to draw significant regulatory scrutiny, that Alphabet's revenues were unsustainable to the extent that they were the product of said anticompetitive conduct, that Alphabet's conduct, once revealed, would negatively impact the Company's reputation and expose it to a heightened risk of litigation and regulatory enforcement action, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Alphabet Inc. (NASDAQ: GOOG, NASDAQ: GOOGL) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.