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FTC Issues Statement About Google Inc (GOOGL) Being Cleared In Antitrust Investigation

The Federal Trade Commission has issued a statement regarding its decision to clear Google Inc (NASDAQ:GOOGL) in one of the largest antitrust investigations undertaken by the United States government.

The statement comes after a report was published by The Wall Street Journal based on emails, other documents and visitor logs to the White House which the FTC says “makes a number of misleading inferences and suggestions” about the agency’s investigation of Google Inc (NASDAQ:GOOGL).

“Contrary to recent press reports, the Commission’s decision on the search allegations was in accord with the recommendations of the FTC’s Bureau of Competition, Bureau of Economics, and Office of General Counsel,” the FTC said in its statement.

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The statement, attributed to Chairwoman Edith Ramirez, and Commissioners Julie Brill and Maureen K. Ohlhausen, further asserts that Google Inc (NASDAQ:GOOGL) is following through on its concessions made during the investigation.

“Some of the FTC’s staff attorneys on the search investigation raised concerns about several other Google practices. In response, the Commission obtained commitments from Google regarding certain of those practices. Over the last two years, Google has abided by those commitments,” the statement said.

According to the government agency, the meetings which The Wall Street Journal report it says paint as demonstrating how Google Inc (NASDAQ:GOOGL)’s clout in Washington affected the decision of the agency to clear the tech giant are “disparate” and “unrelated”. The FTC said that “Not a single fact is offered to substantiate this misleading narrative.”

Furthermore, the FTC said that it regrets the “inadvertent disclosure of confidential documents and information” resulting from a Freedom of Information Act request. It said that it is serious in its obligation to maintain the confidentiality of business and other sensitive information.

Ryan Pedlow’s Two Creeks Capital Management owned 215,131 Google Inc (NASDAQ:GOOGL) shares by the end of 2014. The stake was added to the Two Creeks Capital Management portfolio during the last quarter of 2014.

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