Dismissal Of Investor Claims In Google Stock-Drop Suit Substantially Overturned

Mealey's (June 18, 2021, 10:35 AM EDT) -- SAN FRANCISCO — A federal district court partially erred in dismissing certain shareholder claims in a securities class action lawsuit against Google LLC, Google parent company Alphabet Inc. and others stemming from alleged misrepresentations the defendants made concealing data security and management integrity issues relating to the Google+ social media network because two statements Alphabet made in 2018 Securities and Exchange Commission quarterly reports were materially false and misleading, a Ninth Circuit U.S. Court of Appeals panel ruled June 16 in affirming in part and reversing and remanding in part....