(Ping Zine Web Hosting Magazine) – Due to a pending investigation by the U.S. Department of Justice, Google has set aside $500 million in the first quarter to battle potential charges due to antitrust claims. The exact amount was revealed after Google completed its most recent filing with the U.S. Securities and Exchange Commission.
While both Google and the U.S. Justice Department have declined to comment on the revelation when contacted, Google stated in the filing that the money set aside could resolve any potential charges.
Google went on to state, “Although we cannot predict the ultimate outcome of this matter, we believe it will not have a material adverse effect on our business, consolidated financial position, results of operations, or cash flows”.
Google has most recently come under scrutiny for their handling of advertising, among other things. The company has also faced antitrust investigations before, but not one on such a high level. Last year, the European Commission conducted a similar investigation. The company also recently faced accusations by shopping comparison site MyTriggers over search result manipulation.
Considering the company’s size, most analysts believe that Google should not have any trouble battling possible antitrust charges.