Key Facts
- Plaintiff
- Teads, an adtech platform
- Defendant
- Court
- Southern District of New York
- Lawsuit length
- 85 pages
- Alleged lost impressions
- 6.88 trillion (2017-2023)
- Teads stock change (YoY)
- Down nearly 68%
Background
Teads, an adtech platform that helps web and mobile publishers monetize their digital content, has filed an 85-page lawsuit against Google in the Southern District of New York. The suit claims that Google's anti-competitive advertising practices, which hampered competition, continue to this day.
The lawsuit alleges that when Google tied its Google Ads platform to its ad exchange AdX, rival exchanges lost out on about 6.88 trillion impressions between 2017 and 2023. The complaint does not disclose the methodology behind that estimate.
Teads is the fifth supply-side platform (SSP) to sue Google over the last year, joining Index Exchange, Magnite, OpenX, and PubMatic. These lawsuits were sparked by an April 2025 landmark federal ruling that determined the tech giant used unlawful, anti-competitive practices to maintain its dominance in the open web advertising market.
Current Situation
Teads' lawsuit claims that some of Google's disputed practices are ongoing. Specifically, it alleges that Google's assurances that it ended 'Last Look' in 2019 are false, and that Google has enacted additional auction rules across publisher inventory that substantively parallel Last Look.
The adtech company also accuses Google of continuing to operate a secretive bid-rigging scheme originally called Project Bernanke. Teads claims that the same scheme continued to work after Google's 2019 shift to first-price auctions, and that Google continues to update the Bernanke/Algorithm to this day.
Teads is seeking court-ordered changes to support healthier competition and require Google to end what it calls 'deceptive practices.' The company did not specify a damages figure but requested 'treble damages, punitive damages, and/or restitution in an amount to be determined at trial.'
| Supply-Side Platform | Status |
|---|---|
| Index Exchange | Sued |
| Magnite | Sued |
| OpenX | Sued |
| PubMatic | Sued |
| Teads | Sued |
Impacts
If Teads' allegations are proven, rival ad exchanges and independent ad tech providers could have lost significant revenue and market opportunities due to the alleged suppression of competition. The lawsuit could also affect publishers who rely on ad exchanges for monetization.
Teads itself faces potential financial and operational risks. Its stock is down nearly 68% year-over-year, and the company warned in an SEC filing that the lawsuit may be costly, protracted, and divert management's attention and resources from business operations.
Despite the lawsuit, Teads and Google remain partners in other areas. In February, Teads said it was working with Google TV to extend its connected television ad inventory in the U.S. and the U.K., highlighting the complex relationship between the two companies.
Future Outlook
Scenario analysis: The possibilities below are not certain predictions.
The outcome of the lawsuit remains uncertain. If the court rules in Teads' favor, Google could face significant financial penalties and be required to change its ad auction practices, potentially opening the market to more competition.
If Google successfully defends against the claims, it may continue its current ad tech operations, and other pending lawsuits from SSPs could be weakened. However, the April 2025 federal ruling against Google could still influence the case.
The lawsuit could also lead to broader industry changes. If Teads' claims about ongoing practices are substantiated, regulators and other plaintiffs may pursue similar actions, potentially reshaping the digital advertising landscape. However, these are conditional possibilities and not certain outcomes.
Source: adweek.com
