Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Alphabet    GOOGL

ALPHABET (GOOGL)
My previous session
Most popular
  Report  
Real-time Quote. Real-time BATS EXCHANGE - 01/17 12:51:10 am
1089.3650 USD   -0.01%
01/11AMD shows off 7nm next-gen chips at CES, aims at Intel and Nvidia
RE
01/10Investors ask how the Bezos divorce will affect Amazon
RE
01/09New York's iconic Chrysler Building put up for sale
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Alphabet : board sued on allegations of sexual misconduct cover-up

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/10/2019 | 11:45pm EST
FILE PHOTO:  Google logo on office building in Irvine, California

SAN FRANCISCO (Reuters) - Two shareholder lawsuits filed this week accused the board of Google parent Alphabet Inc of playing a direct role in covering up sexual misconduct claims against two former executives over the last five years.

The company declined to comment.

Both of the lawsuits seek to force Google to change its governance and oversight to stop future workplace conduct issues. They also call for Alphabet directors to pay damages to Alphabet for allegedly breaching their fiduciary duties and engaging in corporate waste.

The allegations stem primarily from large severance payments to Andy Rubin, who led Google's Android mobile operating division until 2014, and Amit Singhal, head of Google's search unit until 2016. Company investigations into both men had found accusations of sexual harassment against them to be credible, according to the lawsuits.

Rubin and Singhal have denied the allegations. Google Chief Executive Sundar Pichai apologized last year to employees for the companies' past handling of sexual misconduct cases and vowed to improve practices. https://www.blog.google/inside-google/company-announcements/note-our-employees

One of the two lawsuits in San Mateo County Superior Court in California cites minutes from Alphabet board and board committee meetings where the executives' situations were discussed.

Plaintiff James Martin obtained the documents through a "shareholder inspection demand," according to the lawsuit. Google provided them on the condition they not be published, according to his attorneys, and details from the minutes are redacted across at least eight pages in the 82-page lawsuit filed on Thursday.

Martin's attorney, Frank Bottini, said his team plans to show that Google suffered hundreds of millions of dollars in damages including payouts made to executives accused of sexual misconduct, lost productivity from employees around the world walking off the job briefly in November to protest the payouts and hits to its brand reputation.

The employee demonstrations followed a New York Times report in October that said Google in 2014 gave a $90 million exit package to Rubin.

Ellen Winick Stross, an attorney for Rubin, said on Thursday that Martin's lawsuit, "like much of the recent media coverage, mischaracterizes Andy’s departure from Google and sensationalizes claims made about Andy by his ex-wife. Andy left Google voluntarily. Andy denies any misconduct, and we look forward to telling his story in court."

Employee organizers said they welcomed the lawsuits as they continue to push for further changes, including an employee representative on Alphabet's board.

The lawsuit calls for Alphabet to add at least three independent directors to its board and move to a "one share, one vote" stock structure to increase shareholder oversight of management decisions. Alphabet executives currently hold voting control through shares with 10 votes each.

"We'd like to see ... meaningful change in the tone at the company, the policies, the treatment of women, the reporting of sexual harassment and other issues," Bottini said.

The second case, brought on Wednesday by Northern California Pipe Trades Pension Plan and Teamsters Local 272 Labor Management Pension Fund, cites company filings and media reports. They are represented by the law firm Cohen Milstein Sellers & Toll.

(Reporting by Paresh Dave; additional reporting by Jonathan Stempel in New York; editing by Grant McCool, Chris Reese and Himani Sarkar)

By Paresh Dave

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALPHABET
01/15Netflix, China boost Wall Street as investors shrug off Brexit vote
RE
01/15ALPHABET : Loon Hires Wireless Executives -- Bloomberg
DJ
01/15EU Commission pushes back plan to end veto on digital tax to 2025
RE
01/15TD Ameritrade taps Apple Pay for instant fund transfers to accounts
RE
01/11U.S. to seek comprehensive agriculture access in EU trade talks
RE
01/11AMD shows off 7nm next-gen chips at CES, aims at Intel and Nvidia
RE
01/11Indonesia's plans to regulate ride-hailing rates threaten Grab, Go-Jek models
RE
01/11ALPHABET : Google Nears a Win in EU
DJ
01/10ALPHABET : board sued on allegations of sexual misconduct cover-up
RE
01/10ALPHABET : Cohen Milstein Files Lawsuit on Behalf of Alphabet Shareholders again..
BU
More news
Financials ($)
Sales 2018 137 B
EBIT 2018 26 990 M
Net income 2018 29 524 M
Finance 2018 110 B
Yield 2018 -
P/E ratio 2018 26,06
P/E ratio 2019 23,09
EV / Sales 2018 4,72x
EV / Sales 2019 3,76x
Capitalization 755 B
Chart ALPHABET
Duration : Period :
Alphabet Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ALPHABET
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 1 343 $
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
Lawrence E. Page Chief Executive Officer & Director
Sergey Mikhaylovich Brin President & Director
John LeRoy Hennessy Chairman
Ruth Porat Chief Financial Officer & Senior Vice President
Eric E. Schmidt Director & Technical Advisor
Sector and Competitors
1st jan.Capitalization (M$)
ALPHABET4.26%754 731
BAIDU7.03%56 877
NAVER CORP--.--%18 692
YAHOO JAPAN CORPORATION10.53%13 863
YANDEX8.01%9 709
SOGOU INC10.86%2 284