According to the Complaint, Alphabet Inc. is a multinational technology conglomerate holding company. It was created through a restructuring of Google Inc. in October 2015, at which point Alphabet became the parent company of Google and several former Google subsidiaries.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Alphabet used its dominance in the field of digital advertising to disadvantage website publishers and advertisers who used competing advertising products; (ii) the foregoing conduct was anticompetitive in nature and likely to draw significant regulatory scrutiny; (iii) Alphabet's revenues were unsustainable to the extent that they were the product of said anticompetitive conduct; (iv) Alphabet's conduct, once revealed, would negatively impact the Company's reputation and expose it to a heightened risk of litigation and regulatory enforcement action; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

On June 9, 2023, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 7. Defendants filed a Motion to Dismiss the amended Complaint on September 21.

On September 3, 2024, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Lead Plaintiff filed a second amended Complaint on September 24. Defendants filed Motions to Dismiss the second amended Complaint on November 8.

On March 24, 2025, the Court issued an Order granting in part and denying in part Defendants' Motions to Dismiss. Judgment was entered in favor of three of the individual Defendants.