Google Hit With Investor Suit Over Illegal Drug Ads

Law360, New York (August 30, 2011, 10:03 PM EDT) -- A Google Inc. investor on Monday sued the company and its directors — including CEO Larry Page — alleging they breached their fiduciary duty by facilitating illegal imports of prescription drugs through the advertising program AdWords, leading to a $500 million settlement with the U.S. government.

Shareholder Patricia McKenna filed the suit in California federal court on behalf of the company, claiming the officers had issued misleading and incomplete financial statements between 2003 and 2009 that did not include revenue from the improper advertising, Bloomberg reported....
To view the full article, register now.

Related

Sections

Case Information

Case Title

McKenna v. Page et al


Case Number

5:11-cv-04248

Court

California Northern

Nature of Suit

Stockholders Suits

Judge

Howard R. Lloyd

Date Filed

August 29, 2011

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.