Google is proposing a significant overhaul of its compliance program to settle a shareholder lawsuit stemming from antitrust allegations. The lawsuit, initiated by two Michigan investment funds in 2021, accused Google of anticompetitive conduct across various markets and failing its fiduciary duties. Although investors approved the proposal, it awaits court approval. This overhaul will shift oversight from the existing audit committee to a new risk and compliance committee and strengthen internal regulatory processes, as Google strategizes amid recent unfavorable court rulings regarding its market practices.
Google's compliance overhaul aims to address allegations of anticompetitive practices and fiduciary breaches, pending court approval after investor support for the initiative.
The proposed overhaul includes shifting oversight from the audit committee to a new risk and compliance committee, aided by additional director and manager-level committees.
Collection
[
|
...
]