Alphabet Inc. Class Action Lawsuit - GOOG; GOOGL
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The Alphabet class action lawsuit seeks to represent purchasers or acquirers of Alphabet Inc. (NASDAQ: GOOG, GOOGL) securities between February 4, 2020 and January 23, 2023, inclusive (the “Class Period”). Captioned AMI - Government Employees Provident Fund Management Company Ltd. v. Alphabet Inc., No. 23-cv-01186 (N.D. Cal.), the Alphabet class action lawsuit charges Alphabet and certain of Alphabet’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Alphabet class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at email@example.com. Lead plaintiff motions for the Alphabet class action lawsuit must be filed with the court no later than May 15, 2023.
CASE ALLEGATIONS: Alphabet is a multinational technology conglomerate holding company. Alphabet is the parent company of digital advertising giant, Google, and several other subsidiaries.
The Alphabet class action lawsuit alleges that defendants, throughout the Class Period, made false and/or misleading statements and/or failed to disclose that: (i) Alphabet used its dominance in the field of digital advertising to disadvantage website publishers and advertisers who used competing advertising products; (ii) the foregoing conduct was anticompetitive in nature and likely to draw significant regulatory scrutiny; (iii) Alphabet’s revenues were unsustainable to the extent they were the product of anticompetitive conduct; and (iv) Alphabet’s conduct, once revealed, would negatively impact Alphabet’s reputation and expose it to a heightened risk of litigation and regulatory enforcement action.
On January 24, 2023, the U.S. Department of Justice and eight states filed an antitrust lawsuit against Alphabet’s subsidiary, Google, accusing Google of illegally abusing its dominance in digital advertising and violating the Sherman Antitrust Act. The complaint alleges, among other things, that “Google abuses its monopoly power to disadvantage website publishers and advertisers who dare to use competing ad tech products in a search for higher quality, or lower cost, matches.” On this news, Alphabet’s stock price fell, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Alphabet securities during the Class Period to seek appointment as lead plaintiff of the Alphabet class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Alphabet class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Alphabet class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Alphabet class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.