In response to ongoing legal challenges over Google antitrust violations, Alphabet Inc., the parent company of Google, has agreed to spend $500 million over the next decade to restructure its compliance operations. In the settlement Google does not admit guilt.
The settlement, stemming from shareholder derivative litigation, was filed in the U.S. District Court for the Northern District of California and includes sweeping reforms rarely seen in such cases. Google maintains that it did not admit wrongdoing but agreed to the reforms to avoid prolonged litigation.
“To avoid protracted litigation, we’re happy to make these commitments,” Google stated, emphasizing its ongoing investment in compliance programs.
This case marks a pivotal moment in corporate governance for tech giants navigating antitrust scrutiny and shareholder activism.
Shareholder Litigation: Key Details
The case, officially titled Alphabet Inc. Shareholder Derivative Litigation, U.S. District Court, Northern District of California, No. 21-09388, accuses top executives—among them CEO Sundar Pichai and co-founders Sergey Brin and Larry Page—of breaching fiduciary duties.
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