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Alphabet settles with shareholders over Google antitrust lawsuit

  • 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.

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