Google to spend $500M to revamp compliance structure after shareholders seek ‘culture change’

Source: New York Post

Google agreed to spend $500 million over 10 years to overhaul its compliance structure, to settle shareholder litigation accusing the search engine company of antitrust violations, settlement papers show. The preliminary settlement of so-called derivative litigation against officials at Google parent Alphabet, including Chief Executive Sundar Pichai and Google co-founders Sergey Brin and Larry Page, was filed late on Friday. It requires approval by US District Judge Rita Lin in San Francisco.