Google Fights to Uphold Annulment of $1.7B EU Antitrust Fine
GOOG sits 97% above its 52-week low of $180.711.
Summary
Google is urging the EU's top court to uphold a lower court ruling that scrapped a €1.49 billion ($1.7 billion) antitrust fine. The fine, originally imposed in 2019, was annulled in 2024 due to errors in the European Commission's assessment. A court adviser's non-binding opinion is due November 12, with a final ruling expected in the following months. This is a rare legal win for Google in its long-running EU antitrust battles, which have totaled €9.5 billion in penalties. Upholding the annulment would remove a significant liability and set a precedent for future cases.
At the time of this announcement, GOOG was trading at $355.74 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.4T. The 52-week trading range was $180.71 to $404.47. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.