Google (GOOGL) Loses EU Court Fight to Overturn €2.4 Billion Fine
BloombergSEP 20 2024
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.
In its ruling, which can't be appealed, the ECJ said Google's favoring its shopping search results over rivals' "was discriminatory."
The ECJ prohibits firms from causing "harm to individual undertakings and consumers" and sanctions them for abusing their dominant position.
Google needed to be penalized for abusing its market dominance. The European Commission fine was necessary to address the tech giant's unfair practices. This ruling will reinforce the importance of holding Google accountable and protecting the consumer as well as its smaller rivals.
The €2.4B fine is an oversight. Google can direct millions of users to locations across the internet because it has an index of more than 1B web pages. Its dominant market position isn't an illegal practice aimed at stifling competition, but a result of innovation and the quality of its services.