Is 500 Million Just The Start Of Google’s Problems?
I posted a piece back on August 25 about Google entering into a $500 million settlement with the US Justice Department to resolve claims arising from Google’s displaying illegal ads for Canadian pharmacies. Now, the Google board finds itself named in shareholder derivative lawsuit alleging that the board breached its fiduciary duty to the company by allowing the whole mess to arise in the first place. This type of suit is a pretty common occurrence when there is a major screw up in a corporation. So much so that most folks serving on a corporate board make sure to have directors and officers insurance. I sure hope these board members made sure to Google the best D&O coverage available before they took the assignment.