Google Sheds Investor Suit Over $500M Drug Ads Settlement

Law360, New York (May 8, 2012, 8:00 PM EDT) -- A California federal judge on Tuesday dismissed a shareholder suit over Google Inc.'s $500 million settlement of criminal charges for advertising Canadian prescription drugs, saying the shareholders failed to show they couldn't have addressed the matter with the board of directors.

U.S. District Judge Phyllis Hamilton said the shareholders had not pled facts showing that they had declined to make a demand on the board because the board would not have listened, and dismissed the derivative action against the company for allowing ads for services offering...
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