Investor Sues Google To Halt Stock Split

Law360, Wilmington (April 30, 2012, 4:48 PM EDT) -- A pension fund that holds Google Inc. shares launched a class action in Delaware on Friday to prevent the company from initiating a stock split that would issue a glut of nonvoting shares, calling the move a thinly veiled attempt by the Internet giant’s founders to entrench themselves.

The Mountain View, Calif.-based company’s board — particularly founders Larry Page and Sergey Brin — breached its duty to shareholders by approving the planned stock split, Google shareholder Brockton Retirement Board said in a Delaware Chancery Court complaint....
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