Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Alphabet    GOOGL


My previous session
Most popular
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
01/11/2019 | 12:45am EDT
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 Google provided them on the condition they not be published, according to his attorneys, and details from the minutes are redacted across at least eight pages in the 82-page lawsuit filed on Thursday.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
Latest news on ALPHABET
05:31aALPHABET : U.S. top court jeopardizes Google settlement in internet privacy case
03/20ALPHABET : Google's new gaming service will let game makers use rival clouds, ex..
03/20FACEBOOK : Lithuanian Man Pleads Guilty to $100 Million Fraud Against Google, Fa..
03/20FACEBOOK : Lithuanian Man Pleads Guilty to $100 Million Fraud Against Google, Fa..
03/20MARKET SNAPSHOT: Stocks Close Mostly Lower As Fed-fueled Gains Fizzle; Financ..
03/20ALPHABET : Google fined 1.49 billion euros for search ad blocks in third EU sanc..
03/20ALPHABET : Eric Schmidt Does Not Share His Beautiful Women With Hedge Fund Manag..
03/20ALPHABET : Google's decade-long antitrust battle in Europe
03/20ALPHABET : Supreme Court Ducks Class-Action Ruling on Distribution of Google Set..
More news
Financials ($)
Sales 2019 164 B
EBIT 2019 36 659 M
Net income 2019 33 275 M
Finance 2019 129 B
Yield 2019 -
P/E ratio 2019 26,17
P/E ratio 2020 22,47
EV / Sales 2019 4,41x
EV / Sales 2020 3,58x
Capitalization 852 B
Duration : Period :
Alphabet Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ALPHABET
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 1 333 $
Spread / Average Target 8,7%
EPS Revisions
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$)
ALPHABET17.37%851 738
BAIDU7.30%59 559
NAVER CORP--.--%18 807
YANDEX30.75%11 715
SOGOU INC13.52%2 367