Alphabet, Google's parent company, has settled with shareholders over an antitrust lawsuit regarding Google's monopolistic behavior in the search engine business.
The preliminary settlement will require Alphabet to rebuild its global compliance structure and pay a minimum of $500 million over the next 10 years to make it happen.
The settlement aims to establish a committee within Alphabet's board to oversee regulatory issues and prevent anticompetitive business decisions that led to Google being labeled a monopoly.
The case was originally brought by a Michigan pension fund in 2021, and the settlement will require approval from a judge before implementation.