Omni Bridgeway partially funds $8 billion class action against Google and Meta

Omni Bridgeway is partially funding an $8 billion class action lawsuit against Google and Meta brought by Sotos LLP on behalf of Canadian publishers who used Google and Meta’s advertising tools. The claim alleges Google and Meta (then Facebook) agreed that Facebook would not compete with Google in certain segments of the digital display advertising market, in exchange for Google rigging its auctions in Facebook’s favour. The claim also alleges that Google represented to publishers that it was maximizing their revenues when in fact it was manipulating bids in a manner that harmed publishers.