Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation

X

Google is preparing for a potential backlash from the US Department of Justice and intellectual property lawsuits that could see a dip in its profits and range of services.The US-based company recently released its 2011 first quarter financial report to the United States Securities and Exchange Commission, revealing that it could be “subject to intellectual property or other claims, which are costly to defend, could result in significant damage awards, and could limit our ability to use certain technologies in the future.”

The filing went on to say that this “could result in a loss of revenues for us and otherwise harm our business.”

Google is currently under fire as the filing states there are “patent, copyright, and trademark infringement lawsuits filed against us claiming that certain of our products, services, and technologies … infringe the intellectual property rights of others.”

The internet giant is also stockpiling a US$500 million tab in relation to a US Department of Justice investigation over the last quarter. The investigation is related to the use of Google advertising by certain advertisers.

On the company’s filing, the $500 million sits under the banner of “Charge related to potential resolution of Department of Justice investigation,” indicating that the sum is possibly being set aside in case a monetary settlement comes out of the DoJ investigation or other legal costs.

The company does not believe that the final outcome of this investigation – not yet resolved – will adversely affect its business.

Leaderboard 728x90 Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
SOUL S GEAR 4SQM banner 728x90px Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
728x90 Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
728x90 MOTOROLA EDGE 20 PRO Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
Mode II 728x90px product Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
BFCM BANNERADS 728x90 Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
728x90 Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
UE Wonderboom2 CNWeb LB Blue Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
CUST CRICKET FY22 Sport Cricket Q2 V1 728x90 Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation
728x90 Google Sets Aside Millions For Upcoming Lawsuits And Govt Investigation


YOU MAY ALSO LIKE