Google Inc. has acknowledged that they are the subject of a copyright infringement lawsuit. This came to light from their filing with the Securities Exchange Commission, and went on to disclose that their video sharing service is the subject of this action.
This further reveals some troubles that Google could have bought when they purchased YouTube. Rumors have been circulating that the company has set aside about $500 million for a legal slush fund for such possible actions against their new subsidiary, but Google’s Chief Executive Eric Schmidt said on Tuesday that there is no such fund. The concern is also due to possible copyright violations that Google could face as a result of YouTube user actions.
Google released few details about the law suit in their quarterly filing, but did say that copyright claims had been filed against Google’s video and news services, and its Web, image, and book search offerings. The company did not say how many suits were filed, and did not name the plaintiffs. However, in an e-mail statement, Google said the suit against its video service was filed in France and sought only about 150,000 Euros, or $192,400, in damages, an amount considered immaterial to the company’s finances.
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