Shareholders today filed a lawsuit against Google parent company Alphabet, arguing that the company had breached its duty to shareholders when it approved large exit packages for former executives after determining that there were credible allegations of sexual misconduct.
The suit was filed this morning in San Mateo Superior Court by Alphabet shareholder James Martin. The suit seeks three new independent directors for the Alphabet board, and an end to the dual-class voting structure of the stock — moves that would greatly diminish the power held by co-founders Larry Page and Sergey Brin. It also calls for executives who received payouts to return them to the company. It also seeks unspecified financial damages. Google did not...
from The Verge - All Posts http://bit.ly/2SNbPtz
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