This post was originally published on this site
The Justice Department and a group of state attorneys general may file antitrust lawsuits against Alphabet Inc.’s Google as soon as this summer, according to a Wall Street Journal report that published Friday afternoon and cited people familiar with the matter.
The states’ probes are centered on the Alphabet Inc. GOOGL, +1.19% GOOG, +1.25% subsidiary’s online advertising business.
The Justice Department, which is also scrutinizing Google’s ad technology, is focusing more broadly on how Google leverages its dominant search business to stifle competition, sources told the Journal.
The Justice Department could bring a case this summer, followed by some AGs — led by Texas Republican AG Ken Paxton — in the fall, the Journal reported. Google was not immediately available for comment.
For more: Four reasons why antitrust actions will likely fail to break up Big Tech
U.S. Attorney General William Barr, who continues to treat the investigation of Google as a priority despite the COVID-19 pandemic, told the Journal in March that he wanted a decision on the matter by the summer.
Alphabet shares fell about 2% in after-hours trading Friday afternoon following the release of the report immediately after the regular trading session ended.
Alphabet shares have held up recently despite concerns about antitrust charges and effects of COVID-19 on the online advertising market, rising 2.5% so far this year as the S&P 500 index SPX, +0.39% has declined 11.7%.
