Klarna Group plc (NYSE:KLAR) shares are trading higher Wednesday after a Swedish court ruled in favor of the company's PriceRunner unit, awarding $1.97 billion in damages in an antitrust case against Alphabet Inc.
(NASDAQ:GOOG)'s Google.
The Ruling Stockholm's Patent and Market Court ruled in PriceRunner's favor, awarding $1.97 billion in damages.
The award compensates for lost revenue caused by Google's preferential treatment of its own comparison-shopping service over independent price-comparison services—conduct the court found also drove up costs for consumers.
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