The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Alphabet Inc. (NASDAQ: GOOGL) who purchased securities between February 4, 2020 and January 23, 2023. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Alphabet lawsuit alleges 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 that they were the product of said anticompetitive conduct; (iv) Alphabet’s conduct, once revealed, would negatively impact the Company’s reputation and expose it to a heightened risk of litigation and regulatory enforcement action; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 15, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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