Boston, MA 06/21/2013 (wallstreetpr) – The world’s leading search engine provider, Google Inc. (NASDAQ:GOOG) is now under pressure from the privacy watch dog of the French Government, as it had set a deadline for the company to modify its privacy policies across all the platforms including Gmail and YouTube. To add on, the Spanish Government had later announced that it would be launching an official probe into the privacy policies and business practices of Google Inc. (NASDAQ:GOOG).
It had also noted that already 5 cases involving privacy violations at the major level had been identified , which if proven would result in fine of $400,000 per case and another minor case would add up around $45,000 to the fines. Google Inc. (NASDAQ:GOOG) was earlier contemplating whether to rework on the privacy policies to avoid a fine of $200,000 from the French Government, but now it had become essential that the company take stern steps to avoid the fine of around $2 million from the Spanish Government.
The governments are specifically skeptic about the new privacy policies launched in Europe last year by Google Inc. (NASDAQ:GOOG) and about what the company does with all the data it collects. As a result of such mounting pressures, the share prices of Google Inc. (NASDAQ:GOOG) had declined by 1.77 percent to close at $884.74 per share for the end of last trading session on Thursday. The shares of the leading search engine provider had been trading in the range of $883.31 to $901.00 per share during the day. The shares of Google Inc. (NASDAQ:GOOG) had recorded 52 week low price level at $557.21 per share and 52 week high price level at $920.60 per share.
Google Inc. (NASDAQ:GOOG) had witnessed the trade of 3.38 million shares on Thursday, while the average trading volume for the company is at 2.30 million shares per day. The company presently holds 331.77 million shares outstanding in the market with an institutional ownership of 71 percent of its holdings.
