Naija Tech News (NTN) on 26, and in content, Alphabet settles lawsuits with shareholders over sex scandals, Alphabet .
Google’s parent company Alphabet has reached a settlement in a shareholder lawsuit in which shareholders accused Alphabet’s former chief legal officer, David Drummond, and other executives of improperly dealing with sexual misconduct. And cover up.
According to the settlement agreement, Alphabet will abolish mandatory arbitration, restrict Google’s use of nondisclosure agreements, and prohibit Google from “providing severance pay to any employee who has been fired due to sexual harassment, sexual misconduct or retaliation, including an executive .”
Last year, Alphabet’s board of directors established a “Special Litigation Committee” composed of independent directors to investigate the allegations.
According to the summary of the settlement agreement provided by the plaintiff’s lawyers, during the investigation or the prosecution due to improper sexual conduct, Alphabet executives will not be able to receive severance pay or modify their stock sales plan. The agreement also includes a commitment of US$ 310 million in funding, which will be used to fund and create a diversity, fairness and inclusiveness advisory committee composed of external experts.
Google’s head of human operations, Eileen Naughton (Eileen Naughton), in announcing the settlement agreement, said in a statement that the company promised to comply with five new guidelines and a series of reform rules .
In early 2019, a shareholder of Alphabet filed a lawsuit against the company’s board of directors through a lawyer, alleging that it shielded executives from allegations for improper sexual conduct, alleged that it violated fiduciary duties, abused control, made improper profits and wasted company assets. Earlier, Google discovered that the charge of Android Andy Rubin (Andy Rubin) was credible and asked him to resign, but agreed to pay him a $90 million severance package, which is global It triggered employee strikes and prompted the company to revise some policies related to improper sex in 2018.
Subsequently, the Alphabet board of directors established a special litigation committee last year and hired Cravath, Swaine & Moore LLP to investigate the improper conduct of senior executives. The subjects included Drummond and others. He was the highest paid senior executive at the time. One of the tubes. In January of this year, Drummond retired from Alphabet.
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