Klarna is due to receive a $1.97 billion payout from Google after a Swedish court determined that the Alphabet-owned tech giant engaged in anticompetitive practices.
The ruling stems from a 2022 lawsuit brought against Google by PriceRunner, a price-comparison service Klarna acquired that same year. PriceRunner had accused Google of favoring its own shopping service in search results.
Stockholm's Patent and Market Court ruled partially Wednesday in PriceRunner's favor, awarding damages for revenue lost due to Google's anti-competitive search practices.
For Google, it is simply the latest blow in a series of antitrust cases that have left the company on the hook for billions of dollars in legal liabilities. A federal court finalized a $700 million settlement in April over allegations that Google maintained an illegal monopoly over Android app distribution and in-app payment systems.
The company also has faced billions of dollars in regulatory antitrust fines following a string of landmark European Commission cases targeting its market dominance.
Google indicated it may fight the ruling. "We don't agree with the court's decision," a spokesperson said, adding that the company is currently considering its legal options.
Klarna stressed that the award remains subject to appeal by Google. Any eventual payout would be reduced by taxes, as well as profit-sharing agreements with its litigation funder and former PriceRunner shareholders, the company clarified.
Dan Greaves, Klarna's head of communications and policy, lauded the court's decision for fostering "a healthier, more competitive market for the way people compare products and services" in his own statement.
Shares of Klarna Group rose 4.1% to $21.06 on Wednesday following a double-digit spike in premarket trading. If those gains hold, the stock will close at its highest level since February, according to Dow Jones Market Data.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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(END) Dow Jones Newswires
July 01, 2026 10:00 ET (14:00 GMT)
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