Google’s parent company, Alphabet Inc. has reached a lawsuit of $310 million. The lawsuit is between a shareholder whos filed the lawsuit over its treatment of allegations of executives sexual misconduct. Alphabet Inc, the parent company of Google has said that they will prohibit severance packages for anyone fired due to misconduct, or in this case, subject of sexual assault misconduct. A special team has been appointed. This special teams sole task is to investigate any allegations against executives. They will then report it to the board’s audit committee.
What Did The Lawyer Say?
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“This settlement will not only change and improve the culture at Google, but it will set the standard for culture change at tech companies throughout Silicon Valley,”stated Ann Ravel, an lawyer from Renne Public Law Group who led components of the settlement negotiation.
What Is Alphabet?
Alphabet is not only the parent company of Google. It is an American company founded in 2015. The headquarters for this company is located in Googleplex, Mountain View, California. This company came into existence when a restructuring of Google occurred. The two co-founders of Google continued to remain as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world’s fourth-largest technology company by revenue and one of the world’s most valuable companies.
Other than Google, Alphabet is a parent company to:
As per the 2017 annual report, 86% of alphabets revenues came from performance advertising. This includes Google Adsense and Google Ads. 53% came from its international operations. This translated to total revenue of US$110,855 million in 2017 and a net income of US$12,662 million.