Google used its monopoly power to artificially raise ad prices for years. That could cost it $100 billion or more.

"We could well see a class-action lawsuit from advertisers seeking monetary penalties for being 'over-charged' for years," Shmulik wrote, noting the potential financial fallout stemming from Google's antitrust violations.

"It's plausible to see a lawsuit seeking $100B+ in damages," he added in a recent note to investors, emphasizing the magnitude of claims advertisers might pursue against Google.

The judge ruled last month that Google broke antitrust law not only by paying Apple and other partners to suppress competition in the search market.

Google's monopoly allowed the company to artificially raise ad prices for years and see little impact in terms of advertisers using alternative marketing products in the search market.

Read at Business Insider