Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alphabet Inc. (GOOG, G

LOS ANGELES , March 24 /Businesswire/ - Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming May 15, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Alphabet Inc. (“Alphabet” or the “Company”) (NASDAQ: GOOG, GOOGL) securities between February 4, 2020 and January 23, 2023, inclusive (the “Class Period”).

If you suffered a loss on your Alphabet investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Alphabet-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On January 24, 2023, the U.S. Department of Justice and eight states filed an antitrust lawsuit against Alphabet’s subsidiary, Google, accusing it of unlawfully abusing its dominance in digital advertising and violating the Sherman Antitrust Act, claiming 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 Class A shares fell $2.09, or 2%, to close at $97.70 per share, while its Class C shares fell $2.00, or 2%, to close at $99.21 per share on January 24, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Alphabet used its dominance in the field of digital advertising to disadvantage website publishers and advertisers who used competing advertising products; (2) the foregoing conduct was anticompetitive in nature and likely to draw significant regulatory scrutiny; (3) Alphabet's revenues were unsustainable to the extent that they were the product of said anticompetitive conduct; (4) 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 (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Alphabet securities during the Class Period, you may move the Court no later than May 15, 2023 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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