Google (NASDAQ: GOOGL) has asked a U.S. judge to dismiss the Department of Justice’s lawsuit against the tech giant’s dominance in the digital ad tech market, Bloomberg reported on Tuesday. This lawsuit was filed by the DoJ earlier this year and is backed by eight U.S. states and calls for the breaking up of Google’s ad tech business and accuses the company of violating the antitrust Sherman act.
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A separate Reuters report quoted Google as stating, “In the more than three years that it has been investigating Google’s ad-tech business, the United States has received more than two million documents from Google and taken over thirty depositions of Google witnesses. Yet plaintiffs remain unable to find support for their claimed antitrust harms.”
Dan Taylor, Google’s VP of Global ads commented that the DOJ’s lawsuit “does not reflect the dynamic digital advertising industry and ignores key players we compete against every day.”
Analysts are bullish about GOOGL stock with a Strong Buy consensus rating based on a unanimous 32 Buys.