Evercore ISI senior managing director Mark Mahaney discusses whether lower interest rates will help Big Tech stocks on Varney & Co.
A federal judge ruled on Monday that Alphabet – the parent company of tech giant Google – broke federal antitrust laws as it reinforced its dominant position over online searches and advertising.
The ruling from U.S. District Judge Amit Mehta in the District of Columbia opens the door to a second trial to determine potential remedies to Google’s monopolization of the search and advertising space. It marks the Justice Department’s first victory over a monopoly in over 20 years.
The decision is the first major court ruling against Big Tech firms in a series of cases alleging that those companies have allegedly engaged in monopolistic business practices.
The federal court’s ruling could force changes in Google’s business practices. (REUTERS/Steve Marcus/File Photo/File Photo / Reuters Photos)
This is a developing story. Please check back for updates.
Reuters contributed to this report.