Google is currently involved in several legal proceedings, including prominent cases surrounding its search and advertising monopoly with the Department of Justice (DOJ). In the midst of these ongoing issues, Alphabet has reached a preliminary settlement concerning a shareholder lawsuit related to an antitrust case involving Google.

According to a report from The Financial Times, Alphabet will be required to allocate a minimum of $500 million to address the implications of the settlement. The shareholders claimed that the company had permitted anticompetitive practices, which not only exposed it to significant reputational damage but also incurred substantial costs.

Consequently, Alphabet must now focus on rebuilding its global compliance structure over the next decade. As part of the settlement, Alphabet is expected to establish a dedicated committee within its board to oversee regulatory concerns.

This committee will work directly under the guidance of CEO Sundar Pichai and will include a group of senior executives, alongside product managers and internal compliance experts. The aim of this initiative is to help the company avoid future business decisions that could lead to similar legal challenges.

It is important to note that this settlement is preliminary and still requires approval from a judge before any changes can formally take effect. This decision has the potential to be a pivotal turning point for Alphabet, particularly in light of the looming implications of its ongoing monopoly lawsuits.

With a remedies trial in Google’s search monopoly case recently concluded, a judicial decision is anticipated in August, further emphasizing the significance of this legal landscape for the company.