Google Settles Stock Split Lawsuit

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Google has settled an investor lawsuit that paves the way for it to issue Class C shares.

Google announced its intention to issue Class C stock last year, however the Brockton Retirement Board and shareholder Philip Skidmore sued the firm, claiming that the firm’s co-founders Sergey Brin and Larry Page engineered the stock split in order to keep control of the firm. Google has now settled the lawsuit before the case was about to go to trial in a Delaware court.

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