Justice Department Files Antitrust lawsuits against google

The Justice department hit google with a big antitrust law suite earlier today, the lawsuit accuses Google of engaging in search dominance. The suite accused Google of unlawfully maintained monopolies in markets for “general search services, search advertising, and general search text advertising,”  the lawsuit says.

Google issues a statement earlier today and said, “Today’s lawsuit by the Department of Justice is deeply flawed,” a Google spokesperson said in a statement. “People use Google because they choose to -- not because they’re forced to or because they can’t find alternatives. We will have a fuller statement this morning.”

The DOJ's statement on the Google antitrust lawsuit says,  “Over the last year, both the US DOJ and state attorneys general have conducted separate but parallel investigations into Google’s anticompetitive market behavior,” attorneys general from Iowa, Nebraska, Colorado, Tennessee, New York, North Carolina, and Utah said in the statement. “We appreciate the strong bipartisan cooperation among the states and the good working relationship with the DOJ on these serious issues. This is a historic time for both federal and state antitrust authorities, as we work to protect competition and innovation in our technology markets. We plan to conclude parts of our investigation of Google in the coming weeks. If we decide to file a complaint, we would file a motion to consolidate our case with the DOJ’s. We would then litigate the consolidated case cooperatively, much as we did in the Microsoft case.”

Google owns over 88 percent of the web search market, Google stock (GOOG) is trading at $1,529, the lawsuit didn't seem to affect the stock that much as of now.  This case will be a long process and it will take years to resolve this issue, as a result, we may see a long drag between google and the DOJ.