Google Settles Stock-Split Suit On Eve Of Trial

Law360, Wilmington (June 17, 2013, 6:05 PM EDT) -- Google Inc. said Monday it has struck a deal with shareholders who launched a putative class action challenging a plan to issue nonvoting stock — an agreement that arrived just as the Delaware Chancery Court planned to take up the suit in a much-anticipated trial.

Announced in a letter to Chancellor Leo E. Strine Jr., the settlement lets the Internet giant move forward with its proposed recapitalization plan to issue nonvoting stock but establishes further checks on the process.

“We are pleased to report that the...
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