PriceRunner sues Google for $2.4 billion over alleged antitrust breach
Google’s logo is displayed alongside a shopping basket on smartphones.
Rafael Henrique | SOPA Images | LightRocket via Getty Images
Google has been sued by the Swedish Price Comparison Website for 2.1 Billion Euros (or $2.4 Billion) because it is accused of manipulating search results favoring its competitor shopping site.
PriceRunner stated Monday that it intends to sue Google in Stockholm. The company is seeking to recover damages for the aforementioned. 2017 ruling from the European CommissionGoogle violated antitrust laws when it gave preference through its popular search engine to Google Shopping, its shopping comparison product.
The EU executive committee handed Google $2.7 billion in a record-setting fine after a seven year investigation into Google’s practices. Google appealed to the penalty. However, in November 2021 the decision was reversed. upheld by the EU’s General Court. You can appeal the verdict to the EU’s highest tribunal.
Mikael Lindahl CEO PriceRunner said that PriceRunner launched the suit after making “extensive, thorough preparations”.
Lindahl stated in a statement that while we are seeking to compensate Google for many years of damage, she also sees this case as an opportunity for consumers who suffered enormously due to Google’s violation of competition law over the last 14 years.
This is also an issue of survival for many European entrepreneurs and the job opportunity within tech.
Google spokesmen said that the company is looking forward to going to court and defending itself. It made the following statement: number of changesThe 2017 Commission Resolution was a response to the concerns of members.
The spokesperson stated in an email that the changes made in shopping ads in 2017 were successful and have generated growth for over 800 comparison shopping sites in Europe.
The system has been subject to intense monitoring by two groups of experts outside the EU Commission. PriceRunner did not use Google Shopping Ads, and therefore may not have enjoyed the same results as other users.
PriceRunner claims that Google is not following the ruling of its commission and continues to abuse its dominance among search engines. It anticipates that the final damages will exceed the interim sum, which was 2.1 billion euro.
Klarna took over the company in November and now wants Google compensation for losses in the U.K., Sweden, and Denmark since 2008.
Lindahl expressed satisfaction that Google has “financially strong owners”, received external funding, and had Europe’s most respected experts as part of its team. Lindahl added, “We look forward to getting compensation for the loss we suffered and contributing to Google’s illegal conduct ending.”
PriceRunner is the Nordic’s leading independent price comparison website, boasting over 3.7 Million products and 22,500 locations in 25 different countries.