Swedish court orders Google to pay $1.5 billion to Klarna's PriceRunner in antitrust damages

Reuters··Read original
3▲1 ▼1Impact / 5
Summary · why it matters

A Swedish court has ordered Alphabet's Google to pay approximately 14.3 billion Swedish crowns, equivalent to $1.5 billion, in antitrust damages to PriceRunner, the price comparison company owned by Klarna. The Stockholm Patent and Market Court stated that PriceRunner suffered damage because Google illegally favored its own price comparison service for many years. PriceRunner had sued Google in 2022 for around €2.1 billion, alleging the company breached antitrust laws by manipulating search results to benefit its own comparison shopping services.

Impact on assets 2

Artificial Intelligence▼ · 1 stocks
Alphabet Inc Class C
GOOG
▼ NegativeRegulationrelevance

Court orders Google to pay $1.5 billion in antitrust damages for illegally favoring its own price comparison service.

Digital Finance & Tokenization▲ · 1 stocks
Klarna Group plc
KLAR
▲ PositiveCapitalRegulationrelevance

Klarna's subsidiary PriceRunner wins $1.5 billion antitrust damages from Google.

Off-coverage companies 1

PricerunnerPrivate▲ Positive
Regulationrelevance

PriceRunner, the plaintiff, awarded $1.5 billion in antitrust damages from Google.

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