Google preps $700M settlement payouts

Core Insights - The settlement involves a total of $700 million, with $630 million allocated for consumers and $70 million for states and territories [3][4] - The settlement addresses antitrust complaints against Google regarding its Play store practices, impacting over 100 million consumers who made purchases between August 2016 and September 2023 [4][7] - Google is required to modify its app store business practices, allowing alternative payment systems for at least five years, although it does not admit any wrongdoing [5][6] Settlement Details - The settlement fund of $630 million will accrue interest and is subject to federal taxes [6] - Payments to consumers will be made automatically through PayPal or Venmo, linked to their Google Play accounts [7] - Consumers have until February 19, 2026, to object to or exclude themselves from the settlement, with final approval scheduled for April 30 [7]