Overview

• Alphabet will allocate $500 million over 10 years to strengthen its antitrust compliance structure under the settlement.
• New oversight bodies include a standalone board committee for risk and compliance, an SVP-level regulatory committee reporting to Sundar Pichai, and a cross-functional compliance team.
• Shareholders led by two Michigan pension funds alleged that executives including Sundar Pichai, Sergey Brin and Larry Page breached fiduciary duties by risking antitrust exposure.
• No direct payouts will go to investors, though shareholders’ lawyers intend to seek up to $80 million for legal fees; reforms must stay in place for at least four years.
• U.S. District Judge Amit Mehta, who ruled last August that Google violated federal antitrust law, is set to issue remedies by August while the DOJ has proposed actions such as selling Chrome and sharing search data.