The Department of Justice has launched a second lawsuit against Google accusing the company of illegally monopolizing the digital advertising market.
Eight states have also joined the suit, including New York and California.
- Google claims that the lawsuit is essentially the same as the recent suit brought by the state of Texas, which a Federal court dismissed.
- Google believes that if the suit is successful, it would harm innovation in the country, cause advertising costs to rise, and negatively impact small businesses and publishers that rely on Google's ad network.
- Google's stock was down almost 2% when the suit was announced.
- The search giant is already facing lawsuits from different states for anti-competitive practices for its dominant position in online search, app downloads on Android, and advertising practices.
- It is estimated that in 2023 Google will make $73.8B in advertising revenues.
