Did you know Google Settles Security Bug Lawsuit With Mega $350 Million Payment
Search engine giant Google has agreed to pay $350 million to settle a case related to a massive security bug.
The lawsuit was rolled out in the firm’s direction thanks to shareholders who mentioned how the ordeal cost them millions.
A
preliminary ruling was filed in San Francisco’s courtroom after a year
of debates that needed approval from the American Judge. It had to do
with claims linked to Google from 2018 regarding a serious security
glitch in the firm’s software that had users’ data exposed, putting
their security and privacy at a high risk.
The issue was concealed for months and there was intense public stress on this in terms of data security.
So
many shareholders mentioned how Google feared such disclosure would
make it subject to the likes of scrutiny from the general public, much
like what we saw for Facebook. It harvested users’ data for the upcoming
elections.
As per this complaint, the shares of the company
fell to a great low as news regarding this bug arose, causing a massive
loss in terms of market value, and we’re talking tens of billions of
dollars.
The case was a massive one but the search engine giant
mentioned how it did not do any kind of wrongdoing in terms of making a
settlement and therefore found zero traces of evidence about data being
misused.
The company says they have been identifying and fixing
errors with software for years and it’s a matter of serious concern
which they continue to tackle as we speak. Moreover, the fact that it
had to do with a product that no longer exists was another point of
argument by the firm.
We saw the company dubbed Mountain View
get payments worth $7.5 million as a settlement in the year 2020. During
that time, the judge dismissed shareholder cases. While most
individuals felt that not even a single penny would be attained from
this case, that was not the case. They are happy to see a ruling made
right now where justice would be served.
It has to be remembered
that the matter was disclosed only recently but in reality, Google made
the payments nearly five and a half weeks back. The matter is getting
recognition online right now.
