Google agrees to spend $500 million revamping compliance in shareholder settlement

From Yahoo Finance: 2025-06-02 10:34:00

Google has agreed to spend $500 million over 10 years to revamp its compliance structure, settling shareholder litigation over antitrust violations. The settlement requires approval from U.S. District Judge Rita Lin in San Francisco and includes creating a new board committee and compliance committees. Shareholders accused Google executives of breaching fiduciary duties, leading to antitrust liability. The reforms aim to bring “deeply rooted culture change” within Alphabet. The changes must remain for at least four years, with shareholders not receiving any payment. Google denied wrongdoing and the U.S. Department of Justice is considering requiring Google to sell its Chrome browser.



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