It would seem that not everyone is happy with Google's recently announced stock split. The Brockton Retirement Board has filed a class action lawsuit against the search giant accusing Google of breaching its fiduciary duty to the company’s shareholders.
In a lawsuit filed in the state of Delaware, the suit alleges that Google co-founders Larry Page and Sergey Brin are issuing a stock split in order to cement their power over the company. The stock split would serve to make Google’s shares more affordable, but form a new class of non-voting shares for current investors such as the Brockton Retirement Board.
Posts
