Google is facing a court trial. A collective claim was filed to the US court by all those victims of authorized in-app purchases. The thing is that all of those mobile apps were targeted at kids. Therefore, all of those purchases were made by kids, which contradicts the law.
As a result, Google may well be fined, which will definitely affect is overall image while the corporation's stock may drop in price (which is already the case).
Thousands of users of Android-powered smartphones and tablets are indignant at the Google's policy supporting in-app purchases built in games and other apps for kids. As a result, the parents had to spend hundreds of dollars on those purchases by their unaware kids. More often than not, a single purchase may steal $100 or even more. No wonder that the parents of those unaware kids went berserk on Google and filed a collective complaint in order to make up for the losses and to prevent such precedents in the future.
Meanwhile, Google's stock seems to be reacting in the corresponding way. The stock is currently down form its all-time highs in advance of the forthcoming trial. Most likely, Google will lose the trial and will have to make up for the clients' losses.
Instantly after the news, the price of the company's stock dropped 0,96% down, thereby reaching $1,199.99 per share.
