"Shares of Magnite were heading lower last month as investors seemed to believe that the supply side adtech platform (SSP) was one of the losers in the antitrust ruling that allowed Alphabet's to retain ownership of its Chrome web browser. The decision was seen as a loss for Google's adtech competitors like Magnite, as the Chrome web browser helps Google's advertising business function and improves its ad targeting."
"The more direct news for Magnite came later in the month when it filed a lawsuit against Google on Sept. 16. Magnite said it was seeking financial damages and other remedies in response to the U.S. District Court's earlier ruling that Google had "willfully engaged in a series of anticompetitive acts to acquire and maintain monopoly power" in ad exchange and ad server markets. By doing so, Magnite became the third SSP to sue Google in the last two months."
Shares of Magnite declined after a court ruling allowed Alphabet to retain ownership of the Chrome web browser, prompting investor concern that Magnite and other adtech competitors lost ground. The ruling preserved Google's ability to leverage Chrome to support its advertising business and improve ad targeting, creating downward pressure that sent Magnite's stock down 16% for the month per S&P Global Market Intelligence. Magnite filed a lawsuit against Google on Sept. 16 seeking financial damages and other remedies, citing a district court finding that Google had willfully engaged in anticompetitive acts in ad exchange and ad server markets. Magnite became the third SSP to sue Google.
Read at The Motley Fool
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