Alphabet Inc., Google's parent company, has agreed to spend $500 million over the next ten years to overhaul its global regulatory compliance structure. This investment is part of a proposed settlement to resolve a shareholder lawsuit alleging antitrust violations by the company. The settlement papers, filed in federal court, outline Alphabet's commitment to improving compliance as a response to accusations of anticompetitive practices. This shareholder litigation is separate from the ongoing higher-profile antitrust lawsuit brought by the U.S. Department of Justice against Google. Following the announcement of the settlement, Alphabet's shares experienced a 1.5% decline amid concerns raised by Barclays Bank about potential further drops if a judge orders the company to divest its Chrome browser. The $500 million compliance overhaul reflects Alphabet's efforts to address regulatory scrutiny and shareholder concerns over its business practices.
Class action lawsuits have become FUNDRAISERS for the left. Don’t believe me? Just look at the recent $62M Google settlement. Not a single penny of that went to the victims. Millions, however, went to lefty groups like: https://t.co/7rhdk6B7zW
Class actions rarely go to trial, which is why a case against Google is proving to be an outlier. The company is defending itself in an $800 million lawsuit by Android users who say it misappropriates their cellphone data. More in @JgreeneJenna's column https://t.co/RpqwYKPiAq https://t.co/q4U0l7ACmM
Google takes a gamble in class action jury trial over cell phone data use https://t.co/Xxk3uRATru