Google called the Texas lawsuit “meritless.” Facebook did not immediately respond to a request for comment. In its lawsuit, Texas asks a judge to find Google guilty of breaking antitrust law and to order the violations to stop. The two companies compete heavily in internet ad sales and together capture over half of the market globally. Google ad sales account for over 80% of Alphabet’s revenue. Facebook shares, which briefly turned negative after details of the Texas lawsuit were published, reversed losses and ended little changed.

Source: Dhaka Tribune December 17, 2020 03:00 UTC