On August 16, 2019, Cohen Milstein and Co-Lead Counsel filed an amended complaint in the Superior Court of Santa Clara County, California, on behalf of shareholders of Alphabet, Inc.
On May 16, 2019, the Honorable Brian C. Walsh of the Superior Court, Santa Clara County, California, appointed Cohen Milstein co-lead counsel to oversee a shareholder derivative lawsuit against the Board of Directors of Alphabet, the parent company of Google.
On January 9, 2019, Cohen Milstein and Berman Tabacco, acting as local counsel, filed a shareholder derivative lawsuit on behalf of the shareholders of Alphabet, Inc. (NASDAQ: GOOGL; GOOG), against Alphabet’s Board of Directors.
The Plaintiffs, including Cohen Milstein clients’, Northern California Pipe Trades Pension Plan and Teamsters Local 272 Labor Management Pension Fund, are current stockholders of the Company. They allege that the tech giant violated state and federal law through its secretive practices regarding both issues of workplace sexual harassment and a serious data breach.
The shareholders filed this derivative lawsuit—a lawsuit in which shareholders step into the shoes of the Company to enforce their right to bring about corporate governance changes— to challenge the “culture of concealment” that has permitted serious problems to fester at Alphabet.
Specifically, shareholders seek redress from the injury and losses that they allege were sustained by Alphabet as a result of breaches of fiduciary duty and “culture of concealment” that led Defendants to pursue their own interests and participate or acquiesce in the cover-up of a long-standing pattern of sexual harassment and discrimination by high-powered male executives. The complaint notes that Alphabet’s directors and officers have failed to adequately respond to several other sex discrimination and sexual harassment issues at the Company.
The lawsuit also alleges that Alphabet failed to disclose a data privacy breach that exposed the personal data of a half a million users of Google+, a social networking website operated by the Company, in violation of a Consent Decree the Company entered into with the Federal Trade Commission in 2011.
The case name is: In re Alphabet Shareholder Derivative Litigation, Case No. 19CV341522, Superior Court of the State of California in and for the County of Santa Clara. The case was originally filed as LR Trust, et. al. v. Larry Page, et al., and related actions.