00:00It's Benzinga bringing Wall Street to Main Street.
00:02Alphabet shares fell more than 2% Monday as mega cap growth stocks weakened and Google faced
00:09scrutiny over a 260 million pound UK app store settlement, according to Benzinga.
00:16Google agreed to pay about $352.3 million to settle a class action accusing it of charging
00:23excessive commissions to developers distributing apps through the Google Play Store.
00:27The company did not admit liability and the Competition Appeal Tribunal must approve the
00:33agreement.
00:33About 160 million pounds would go to UK developers, while 100 million pounds would cover legal
00:39and litigation expenses.
00:41Alphabet said it was pleased with the agreement and remains committed to supporting UK developers.
00:46Shares were down more than 2% Monday at the time of publication, according to Benzinga Pro
00:51data.
00:51For all things money, visit Benzinga.com.
