Google Inc (GOOGL) Finally Sees Closure of Online Drug Ads Shareholder Suit


Google Inc (NASDAQ:GOOGL) recently reached a settlement to end the shareholder lawsuits, that accused the company of selling drugs from rouge non-U.S. based pharmacies. As part of the deal, Google Inc (NASDAQ:GOOGL) will create $250 million internal program to prevent such pharmacies from advertising and selling drugs. Re/code, elaborated on the settlement in one of its posts.

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Google Inc (NASDAQ:GOOGL)  will be spending $50 million each year for the next five years on its internal efforts under this settlement. Google Inc (NASDAQ:GOOGL) has also agreed to pay $9.9 million in fees and expense to plaintiff attorneys. Documents filed by Google Inc (NASDAQ:GOOGL) in an Oakland federal court also revealed that the company has promised to make content about prescription drug abuse more visible and work with legitimate pharmacies to counter marketing by rogue sellers.

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