A Swedish court awarded Klarna’s PriceRunner unit $1.97 billion in damages from Google in an antitrust case.
Klarna (KLAR) shares rose 6.7% in premarket trading after a Swedish court ruled in favor of its subsidiary PriceRunner, awarding $1.97 billion in damages against Google. The decision stems from an antitrust lawsuit alleging unfair competition practices.
The ruling follows a prolonged legal battle, with PriceRunner accusing Google of abusing its dominance in search and shopping services. The $1.97 billion award marks one of the largest antitrust penalties in European tech litigation history.
Klarna confirmed the court’s decision, which could set a precedent for similar cases against major tech platforms. The stock movement reflects investor optimism about the financial and legal implications of the verdict.