SAN FRANCISCO (AP) — Google has settled a shareholder lawsuit to clear the way for a long-delayed split of the Internet search leader's stock.
The agreement announced Monday resolves allegations that Google co-founders Larry Page and Sergey Brin engineered the stock split in a way that unfairly benefits them and shortchanges the rest of the company's shareholders.
The split calls for a new class of stock with no voting power to be issued for each share of an existing category of voting stock. The structure is designed to ensure that Page and Brin retain control over the company.
The settlement will require Google Inc. to compensate owners of the new class of if stock if it's worth less than the existing class of stock after one year of trading.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
There is another Lake Effect Snow Warning in effect for Erie, Wyoming, Chautauqua and Cattaraugus Counties from Thursday through early Friday.
Lake Effect Snow Warnings return today with the chance for an additional foot for some areas.
A 26-year-old male employee of Ying's Wings and Things told police that Haibo Jiang, also known as Jimmy Ying, choked him until he passed out.
A Good Samaritan died Wednesday while trying to assist the driver of a tractor trailer who got stuck in the snow.
Viewers sent in photos from the snowfall around Western New York.
The Wyoming County Sheriff’s Office says a tractor trailer crashed on Route 39, in the Town of Eagle.