- The Paris Commercial Court penalized Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google by €2 million ($2.2 million) over abusive practices toward its app store developers, Bloomberg reports.
- The Court ordered Google to change seven clauses from its contracts dating back to 2015 and 2016, including a 30% commission on developer revenue on the Google Play Store.
- The French Ministry of Finance prosecuted Google and Apple Inc (NASDAQ:AAPL) in 2018 for imposing a significant imbalance in the rights and obligations of app developers.
- Google expressed its disappointment in the decision citing decreasing its service fees to 15% or less for 99% of developers.
- A Dutch class-action lawsuit could exact up to €5 billion ($5.5 billion) damages from Apple, Bloomberg reports.
- The Consumer Competition Claims Foundation alleged Apple of exploiting its monopoly position with its 30% fee for every sale from app developers, forcing them to hike prices.
- Apple faced a similar lawsuit in London in 2021 as it battled the Epic Games Inc lawsuit in the U.S. for alleged monopolization of its app distribution marketplace.
- The Dutch antitrust authority recently penalized Apple €50 million in a dispute over payment systems for dating applications.
- Price Action: AAPL shares traded higher by 1.37% at $178 on the last check Tuesday.
