Google to spend $500 million revamping compliance in shareholder settlement

The Asia Mirror
1. Monday, June 2, 2025 / 92 Time View

TAM Desk ||

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 (GOOGL.O), opens new tab, including Chief Executive Sundar Pichai and Google co-founders Sergey Brin and Larry Page, was filed late on Friday.

It requires approval by U.S. District Judge Rita Lin in San Francisco.

The changes include creating a standalone board committee to oversee risk and compliance, previously the responsibility of the Alphabet board’s audit and compliance committee.

Alphabet would also create a senior vice president-level committee to address regulatory and compliance issues, reporting to Pichai, and a compliance committee consisting of Google product team managers and internal compliance experts.

Google denied wrongdoing in agreeing to settle.

“Over the years, we have devoted substantial resources to building robust compliance processes,” the Mountain View, California-based company said on Monday. “To avoid protracted litigation we’re happy to make these commitments.”

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