Alphabet Gets First Approval on $350 Million Investor Class Deal

Google parent company Alphabet Inc. can move ahead with plans to settle investor claims that it didn’t disclose a social network security flaw, after a federal court preliminarily approved the deal Monday.

The parties will need to give Judge Trina L. Thompson a little more information under the terms of her order in the US District Court for the Northern District of California. They must provide “clear” estimates of the number of Class A and Class C share owners who are members of the class, estimated total distributions for those groups, anticipated costs of administering the settlement, and information about ...