Oracle Shares Are Trading Higher Despite Supreme Court Ruling In Google's Favor; Alleges Monopolistic Behavior
In a statement, Oracle Corp (NYSE: ORCL) has alleged Alphabet Inc’s (NASDAQ: GOOG) NASDAQ: GOOGL) of growing in size and power by inculcating higher entry barriers and squashing competitors.
Oracle accused Google of stealing Java and spending a decade over a lawsuit concerning the same that only a monopolist can afford.
According to the company, such practices have triggered global regulatory investigations on Google’s business practices. The U.S. DOJ had filed antitrust litigation against Google in 2020 for alleged anticompetitive practices leading to search and advertising monopoly.
A second case shortly followed the lawsuit. Google was slapped with similar charges in E.U. and India.
Google’s advertising business recently attracted the U.S.’s attention, further stretching the previous probe. Google also recently faced an antitrust investigation for the cookie blocking feature of its Chrome browser.
Oracle had filed a federal lawsuit against Google in 2010 for alleged infringement of the patented Java technology by Google’s Android operating system software. Oracle inherited the technology from the $5.6 billion acquisition of Sun Microsystems. Google sought the dismissal of the case.
The U.S. Supreme Court dismissed Google’s appeal to overturn the Java copyright ruling in 2015. Oracle disclosed the federal lawsuit victory in 2018.
Price action: ORCL shares traded higher by 3.13% at $74.06 on the last check Monday. GOOG shares traded higher by 4.16% at $2,226.72.
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