Alphabet stock down after compliance settlement news

Alphabet GOOGL.O stock dipping 1.4% on Mon after Google-parent agreed to spend $500 mln over 10 years to overhaul compliance structure, settling shareholder litigation accusing co of antitrust violations

Mon's decline in GOOGL shares underperformed a 0.2% gain in the Nasdaq .IXIC

Settlement includes creating standalone board committee for risk and compliance, and senior VP-level committee reporting to CEO Sundar Pichai

Shareholders accused execs of breaching fiduciary duties, exposing co to antitrust liability; changes must remain for at least four years

GOOGL stock down about 11% YTD, compared to 1% fall in Nasdaq .IXIC

Stock recently traded at 17x expected earnings, suggesting it might be undervalued vs avg forward PE of 23 over past five years

GOOGL stock about 18% below its 52-week intraday high of $207.05 reached on Feb. 4, 2025