Judge issues remedies in DOJ antitrust case against Google parent Alphabet

A U.S. District Court judge has issued a remedies decision in the Department of Justice’s antitrust case against Google LLC, a subsidiary of Alphabet Inc. (NASDAQ:GOOGL), according to a press release statement filed Wednesday with the Securities and Exchange Commission.

On Tuesday, Judge Amit P. Mehta of the U.S. District Court for the District of Columbia outlined measures related to Google’s online search business. The decision follows the court’s earlier liability finding on August 5, 2024.

The remedies decision places restrictions on how Google distributes its services. It also requires the company to share search data and offer syndication services to certain competitors.

The case, brought by the Department of Justice, focuses on Google’s practices in the online search market.

Alphabet’s Class A Common Stock and Class C Capital Stock are listed on the Nasdaq Stock Market under the symbols GOOGL and GOOG, respectively.

This information is based on a press release statement included in Alphabet Inc.’s recent SEC filing.

In other recent news, Alphabet has experienced significant developments following a favorable ruling in its antitrust case. Federal Judge Amit Mehta ruled against drastic remedies proposed by the Department of Justice, allowing Alphabet to retain its Chrome web browser and Android operating system. This decision has been viewed positively by multiple analyst firms, with Pivotal Research raising its price target on Alphabet to $300 while maintaining a Buy rating. Similarly, Truist Securities reiterated its Buy rating with a $225 price target, describing the court outcome as a "major win" for Alphabet. BMO Capital also maintained its Outperform rating with a $225 price target, noting that the ruling permits Alphabet to continue its Search distribution payments. Piper Sandler reiterated its Overweight rating with a $220 price target, interpreting the court’s decision as a favorable outcome. These recent developments have been pivotal in ensuring Alphabet’s ability to maintain its business operations without the threat of divestiture.

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