Agora S.A. - Polish media company
CLOSE
Tool-1

Breaking news


FINANCIAL RESULTS OF THE AGORA GROUP IN THE 1Q 2024

AGORA, HOME PAGE, NAJNOWSZA AKTUALNOść (TOOLBAR)

FINANCIAL RESULTS OF THE AGORA GROUP IN THE 1Q 2024

więcej
Tool-3
0

Info box

(
0
)
Notowania

Quotations

Spółka

AGO

Kurs akcji [PLN]

11,76 zł

Zmiana[PLN]

1,2%

Download

Tool-7

Company data

AGORA S.A.
Czerska 8/10 Street
00-732 Warszawa

AGO 1,2%
mWIG40 -0,34%
WIG-MEDIA -0,26%

Regon: 11559486
Numer KRS: 59944
NIP: 526-030-56-44

Tool-4

February 28, 2024 / 15:45

6/2024 Participation in proceedings initiated by a group of European publishers against Google Netherlands B.V.

Regulatory filing

The Management of Agora S.A. with its registered seat in Warsaw (“Agora”, “Company”) hereby informs that on February 28, 2024 a lawsuit against Google Netherlands B.V. (“Defendant”) was filed with the District Court in Amsterdam (Gerechtshof). In the lawsuit, the company Greyfield Capital (“Claimant”) seeks compensation form the Defendant arising out of a claim of the European  press publishers, in the amount of app. EUR 2.1 billion for the anticompetitive practices on the European AdTech market in the years 2014-2023.

One of the more than 30 European media groups engaged in the lawsuit is Agora and its subsidiaries: Grupa Radiowa Agory sp. z o.o. and Eurozet sp. z o.o. Due to the nature of the initiated proceedings, European publishers made, for the benefit of the Claimant (SPV), an assignment of compensation claims due for the anticompetitive practices performed by the Defender’s capital group. The Claimant in the interest and on behalf of the publishers initiated proceedings before the Dutch court, which, as a result of legal analysis, was pointed as having jurisdiction over the case concerning compensations on the territories of several EU member states.

Arguments concerning validity of the asserted claims are based on the previous decision as of June 7, 2021 (No. 21-D-11) of the French competition authority (Autorité de la concurrence), which stated that Google abused its dominant position on the AdTech market and imposed a fine in the amount of EUR 220 million.

The amount of the claim was calculated by a team of economic experts from Charles River Associates (CRA International, Inc.) cooperating with the Claimant, basing on analyses and market tests, public information and data provided by the publishers. The potential compensation due to the Agora capital group companies was estimated in the amount of EUR 44 million. It should be noted that the above amounts are an estimation made by CRA International, Inc. and, as a consequence, are not final and may be subject to change, in particular due to mitigation made by the court and the additional costs and fees to be paid for the benefit of advisors. It is also worth noting that the proceedings initiated by the Claimant are largely of a precedent-setting nature, and based on analyses and estimations of parties, which also influence the uncertainty of the result of the suit and the amount of the potential compensation.

The Claimant cooperates with European law firms – Geradin Partners Limited and Stek Advocaten B.V. The entity funding the proceedings is Harbour Fund  V L.P. who also bears the risk of possible failure of the asserted claim (i.a. bears the cost of the proceedings and remuneration of advisors in case the claim is not recognized by the court). In case the Claimant receives the compensation, its part due to Agora  and its subsidiaries shall be transferred to Agora subject to payment of the proceedings costs and remuneration of advisors and the entity funding the proceedings.

Agora shall inform of material events concerning the proceedings being subject of this regulatory filing, in accordance with applicable laws.

Go back

NEWSLETTER

Every day something new happens to us.
We will be happy to tell you about it.

Choose :

Providing an e-mail address means you agree to receive a newsletter containing information about Agora S.A. and companies from the Agora capital group in the selected area. The administrator of your personal data is Agora S.A with its registered seat in Warsaw (00-732), 8/10 Czerska street. Your personal data will be processed in order to deliver the ordered newsletter, as well as for statistical and analytical purposes of the administrator. The consent may be withdrawn at any time by contacting iod@agora.pl, however its withdrawal does not affect the legality of the processing carried out prior to the withdrawal. By withdrawing the consent to receive the newsletter, you resign from receiving all corporate newsletters regarding the activities of Agora SA and companies from the Agora capital group. For more information on the processing of personal data, in particular your rights, see the Agora.pl privacy policy and our transparency policy.