Google Inc. has settled a shareholder lawsuit alleging that the company's plan to create a nonvoting class of stock would unfairly entrench the company's co-founders Larry Page and Sergey Brin on the company's board. The settlement was reached shortly before the two parties were set to argue their positions in the Delaware Court of Chancery tomorrow.
The Mountain View, Calif., search engine operator was said to have reached the settlement with shareholders, including the Brockton Contributory Retirement System, a Massachusetts pension fund, very late Saturday night. The lawsuit was captioned In re Google Class C Shareholder Litigation.
