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    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
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UK Lawsuit Targets Google App Store Charges

07/29/2021 | 03:35am EDT

By Adria Calatayud

Alphabet Inc.'s Google is facing a lawsuit in the U.K. over its Google Play app store charges in a legal case that claims that users are entitled to compensation, the claimants said Thursday.

The claim has been filed in the Competition Appeal Tribunal in London by consumer advocate Liz Coll and legal firm Hausfeld & Co. LLP on behalf of around 19.5 million U.K. users of Google Play, the claimants said.

The legal action follows a similar, separate claim against Apple Inc. over charges made on its App Store, which was filed in London's Competition Appeal Tribunal in May. At the time, Apple said the claim was meritless.

In the Google case, the claim alleges the company bundles its app store with other products and services, shutting down competition for app distribution on devices that use the Android operating system, the claim organizers said.

In response, Google said the vast majority of developers on Google Play don't pay any service fees which means that their apps are free to consumers.

"This lawsuit ignores the benefits and choice Android and Google Play provide as well as the competitive market in which we operate," a Google spokesperson said.

Earlier this month, three dozen states and the District of Columbia filed an antitrust lawsuit against Google's app store practices. Google said at the time that it provides an open operating system in which customers are free to download apps directly from developers' websites.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

07-29-21 0535ET

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Analyst Recommendations on ALPHABET INC.
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Financials (USD)
Sales 2021 250 B - -
Net income 2021 68 645 M - -
Net cash 2021 140 B - -
P/E ratio 2021 27,9x
Yield 2021 -
Capitalization 1 882 B 1 882 B -
EV / Sales 2021 6,95x
EV / Sales 2022 5,86x
Nbr of Employees 144 056
Free-Float 93,1%
Chart ALPHABET INC.
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Alphabet Inc. Technical Analysis Chart | GOOGL | US02079K3059 | MarketScreener
Technical analysis trends ALPHABET INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 45
Last Close Price 2 816,00 $
Average target price 3 201,73 $
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
Louis John Doerr Independent Director
Ann Mather Independent Director
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