Google has agreed to a $500 million compliance overhaul to settle a shareholder lawsuit accusing the company of failing to prevent antitrust violations. The lawsuit targeted top executives including CEO Sundar Pichai and co-founders Larry Page and Sergey Brin.
Despite denying any wrongdoing, Google stated that it was "happy to make these commitments" in order to avoid prolonged litigation. Shareholders will not receive direct compensation, but their legal team is expected to seek up to $80 million in attorney fees. Additionally, Alphabet has agreed to spend $500 million on compliance efforts over the next decade.
