Alphabet $350 Million Investor Accord, Legal Fees Approved (1)

Alphabet Inc.‘s $350 million settlement of securities claims that it didn’t disclose a Google social network security flaw is reasonable, as is an investor request for 19% of the total in legal fees, a federal court said Monday.

Judge Trina L. Thompson overruled three individual investors’ objections to the nearly $67 million fee award—objections that it’s excessive and that a non-percentage method would be preferable—in a decision for the US District Court for the Northern District of California. She also approved about $1.5 million in litigation expenses requested by lead counsel for the investors.

“The recovery will rank within ...