Msg#: 4585338 posted 12:01 pm on Jun 18, 2013 (gmt 0)
Google Inc has settled a shareholder class action lawsuit that clears the way for the company to issue a new class of nonvoting stock, giving the company a currency for acquisitions that would not dilute the founders' control.Google Settles Shareholder Class Action Lawsuit [reuters.com]
The settlement, which still needs court approval, ends the lawsuit that had been scheduled to go to trial on Tuesday in the Court of Chancery in Delaware, where Google is incorporated. The founders of Google would have had to testify.
"We're pleased to have reached an agreement to settle this litigation," the company said in a statement.