Google has settled the class-action shareholder lawsuit that had been blocking a stock split it originally announced last year, the company said Monday, paving the way for it to move forward with the split as planned. The suit’s settlement was an eleventh-hour development in this 14-month storyline, which included the imminent prospect of a trial in Delaware chancery court over the issue. Google’s plan for the stock split was to create a new “Class C” of non-voting capital stock that would be listed on NASDAQ.
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Google Settlement Paves the Way for Stock Split
Posted by: Erika Morphy June 18, 2013 12:18 PMGoogle has settled the class-action shareholder lawsuit that had been blocking a stock split it originally announced last year, the company said Monday, paving the way for it to move forward with the split as planned. The suit’s settlement was an eleventh-hour development in this 14-month storyline, which included the imminent prospect of a trial in Delaware chancery court over the issue. Google’s plan for the stock split was to create a new “Class C” of non-voting capital stock that would be listed on NASDAQ.