Facts

In a consolidated shareholder derivative complaint brought by plaintiffs on behalf of nominal defendant Google Inc., certain Google officers and directors were alleged to have breached their fiduciary duties to Google's stockholders.

PLAINTIFFS' CONTENTIONS:
Plaintiffs contended that the individual defendants entered into "gentleman's agreements" with numerous other Silicon Valley companies to eliminate hiring competition and drive down employees' wages by agreeing not to actively recruit each other's employees.

DEFENDANTS' CONTENTIONS:
Defendants argued in their motion for summary judgment that plaintiffs' action was time barred by the statute of limitations.

Result

The court granted defendants' motion for summary judgment in its entirety and dismissed the complaint with prejudice, finding that plaintiffs missed the three-year time frame within which to file their claims after the Department of Justice publicly announced a settlement with Google and other companies regarding their alleged recruiting practices involving "no cold call" agreements.

Other Information

FILING DATE: Feb. 28, 2014.