Alphabet to Pour $500 Million Into Sweeping Internal Reforms (2)

Alphabet Inc. has agreed to spend $500 million to improve its global regulatory compliance structure as a proposed resolution to a shareholder suit stemming from US antitrust allegations, according to a federal court filing.

The “comprehensive” reforms at Google LLC and its parent company won’t be limited to the antitrust arena and could “set a benchmark for other major American corporations,” shareholders who sued company leaders said. They asked the US District Court for the Northern District of California on May 30 to approve the settlement.

The investors alleged Alphabet engaged in “prolonged and ongoing monopolistic and anticompetitive business ...