Google will have to pay US $ 2.4 billion to a European company for violating antitrust laws

PriceRunner has sued the tech giant, Google , in the patent and market court in Stockholm .


Alphabet – owned tech giant Google is being sued by European provider PriceRunner for around 22 billion kronor (about $2.4 billion ), the indictment was filed in the market and patent court in Stockholm, Sweden .

This lawsuit is based on the antitrust laws of the European Union , where Google is accused of manipulating search results in favor of its own shopping services.

“This is also a question of survival for many European entrepreneurial companies and career opportunities within technology ,” said Mikael Lindahl, CEO of PriceRunner, according to Bloomberg .

Doesn’t like antitrust laws

The Swedish lawsuit filed, alleges that Google has failed to comply with EU laws even after the tech giant received a $ 2.8 billion fine  from the European Commission in 2017, for illegally funneling shoppers to its sites. own services.

Google appealed the decision to regulate the terms, but the appeal was overturned by the EU’s top court in November.

“The behavior is also damaging to consumers. The accountancy firm Grant Thornton has established that the prices of the offers shown in Google’s own shopping comparison service are between 12% and 14% higher than those from other services, ” PriceRunner said in a press release.

A Google spokesperson told CNBC on Monday that the company hoped to counter the lawsuit in court and that the changes it had made after the European body’s decision were working “successfully.”

“The system is subject to intensive monitoring by the EU Commission and two external expert groups ,” the spokesman said. “PriceRunner chose not to use shopping ads on Google, so it may not have been as successful as others.”