Google (GOOGL) Loses EU Court Fight to Overturn €2.4 Billion Fine
BloombergSEP 9 2024
The European Court of Justice (ECJ) Wednesday ruled in favor of the European Commission for its 2017 fine of €2.42B ($2.7B) on Google for abusive market dominance.The European Court of Justice (ECJ) on Wednesday upheld a 2017 European Commission decision to fine Google of €2.42B ($2.7B) for abusive market dominance.
The ruling on the antitrust fine, which cannot be appealed, said Google's favoring of its own shopping search results over rivals' “was discriminatory.”In its ruling, which can't be appealed, the ECJ said Google's favoring its shopping search results over rivals' "was discriminatory."
The ECJ prohibited firms from causing "harm to individual undertakings and consumers" and reportedly said it does not approve of abusive exploitation.The ECJ prohibits firms from causing "harm to individual undertakings and consumers" and sanctions them for abusing their dominant position.
Tech giant Google needed to be penalized for abusing its market dominance. The European Commission fine was a necessary measure to address Googlethe tech giant's unfair practices. TheThis top European court's ruling will reinforce the importance of holding Google, and other such tech behemoths, accountable and protecting the consumer as well as theirits smaller rivals.
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