FTC to Crack Down on Google (GOOG) If No Antitrust Solution Presented Soon
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Google (Nasdaq: GOOG) ended the session Monday up modestly amid increased pressure from the U.S. Federal Trade Commission regarding antitrust issues.
According to reports, FTC chair Johathan Leibowitz has told Google that it must come to a settlement within the next few days or else the FTC will filed a lawsuit against the company. The ultimatum comes as the FTC and Google have been in discussions for a few weeks, with no viable solution put forth by Google.
Having probed Google for roughly 20 months over suspicion that it is abusing its dominance of the Internet -- for example, ranking search results for its own services ahead of other companies -- the FTC said it won't accept anything less than a consent decree.
Google ended Monday's session up 0.5 percent.
According to reports, FTC chair Johathan Leibowitz has told Google that it must come to a settlement within the next few days or else the FTC will filed a lawsuit against the company. The ultimatum comes as the FTC and Google have been in discussions for a few weeks, with no viable solution put forth by Google.
Having probed Google for roughly 20 months over suspicion that it is abusing its dominance of the Internet -- for example, ranking search results for its own services ahead of other companies -- the FTC said it won't accept anything less than a consent decree.
Google ended Monday's session up 0.5 percent.
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