ALPHABET SETTLES SUIT OVER SEXUAL MISCONDUCT CASES

Alphabet Inc. settled a shareholder lawsuit that accused the Google parent of covering up lavish exit packages to executives found responsible for sexual misconduct, saying it would overhaul workplace policies and increase oversight of its diversity efforts. The company will prohibit severance packages to employees who are subject to any pending investigation for sexual misconduct or retaliation. Sexual misconduct accusations against senior executives will be investigated by a “rapid response” team, and they will be barred from amending their stock-selling plans while under investigation. And Google employees will be able to publicly discuss the facts of their cases. The lawsuit accused Alphabet leadership of making misguided decisions around sexual misconduct issues that hurt the company’s reputation and share price.