Alphabet $500 Million in Reforms Accord Gets First Court Nod (2)

Alphabet Inc.‘s agreement to make $500 million in regulatory compliance reforms cleared the first hurdle toward resolving a lawsuit alleging corporate leaders let the tech giant engage in monopolistic and anticompetitive practices.

Judge Rita F. Lin Tuesday preliminarily approved the agreement to end the shareholder derivative action against Google’s parent company. The US District Court for the Northern District of California will hold a settlement fairness hearing in September, she said.

The proposed accord and financial commitment, made public in May, have been touted as containing meaningful reforms that send a risk oversight message to corporations of Alphabet’s caliber. ...