Google, India antitrust watchdog tussle in court over probe leak

Alphabet Trading

Google, India antitrust watchdog tussle in court over probe leak

Alphabet (NASDAQ:GOOGL) Inc is trading up 0.66% at 2824.32

Google accused India’s antitrust regulator in court on Friday of being a “habitual offender” by leaking confidential information of cases it was examining, an accusation the watchdog rejected.

The Times of India and Reuters reported on Saturday that an investigation by the Competition Commission of India (CCI) had found that Alphabet (NASDAQ:GOOGL) Inc’s Google abused the dominant position of its Android operating system in India, using its “huge financial muscle” illegally to hurt competitors.

In an unusual move on Thursday, Google sued the CCI in the Delhi High Court, saying in a statement it was “protesting against the breach of confidence” and “to prevent any further unlawful disclosures of confidential findings”.

In Fridays near hour-long court showdown, Google’s lawyer, Abhishek Manu Singhvi, accused the CCI of leaking information repeatedly, saying it did so to “give a dog a bad name in advance and then hang him by these selective leakages”.

He asked the court to tell the CCI “leakage cannot continue for one minute more”.

CCI’s lawyer, India’s Additional Solicitor General N. Venkataraman, denied the allegations, countering that the U.S. tech giant was trying to frustrate the investigative process and was challenging a government authority without evidence.

On technical fronts Alphabet (NASDAQ:GOOGL) Inc RSI stood at 52.32 and currently stock is trading above 5 and 10 days MA and below 20 days MA. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : Alphabet (NASDAQ:GOOGL) Inc – BUY : 2824.32, TARGET: 2891.02, STOP LOSS : 2769.20

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