Google Wants Shareholder Suit Over $500M Ad Deal Nixed

Law360, San Francisco (January 29, 2014, 5:07 PM EST) -- Google Inc. urged a California federal judge Wednesday to nix a derivative shareholders' suit over the company's $500 million drug-ad settlement with federal prosecutors, arguing that the plaintiff lacks standing to sue on behalf of Google because company directors voted against pursuing the claims.

Attorneys for Google's top executives argued that the City of Orlando Police Pension Fund can't represent the company or its shareholders, because a committee of directors investigated demands for them to pursue claims that the tech giant breached its fiduciary duty, and decided it...
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