Alphabet Inc. shareholders say the company misled them for months about a Google+ security flaw discovered in March and only disclosed in October.
Alphabet executives should’ve disclosed the software glitch, which potentially exposed the private information of approximately half a million users, to shareholders, according to an Oct. 11 complaint. The Google LLC parent should’ve told investors that damage to the company’s reputation and financial prospects “were imminent and inevitable,” the complaint said.
Also named as defendants are Larry Page, Alphabet’s CEO; Sundar Pichai, Google’s CEO; and Ruth Porat, Alphabet’s chief financial officer.
Google stock dropped 5.9 percent—$67.75 ...