Business is booming.

U.S. judge overseeing Google case will sell mutual funds holding Alphabet stock By Reuters


© Reuters. FILE PHOTO: A Google sign is shown at one of the company’s office complexes in Irvine

WASHINGTON (Reuters) – The judge hearing the U.S. Justice Department’s antitrust case against Alphabet (NASDAQ:) Inc’s Google said on Friday he had directed his financial advisers to immediately sell mutual funds he owns that hold Google stock.

Judge Amit Mehta said he learned that “some of our mutual fund holdings do contain two different classes of Alphabet stock” and directed their sale. Mehta said “neither my wife nor I directed the purchase of these particular funds; they were recommended to us, and we consented to their purchase. Nor did we know at the time that these funds contained Alphabet stock.”

Mehta said he does not believe he is required to recuse himself, but said any objections to him continuing to oversee the case could be filed no later than Jan. 20.

Mehta also directed financial advisors “to monitor all future purchases of mutual or common investment funds” while the case is pending “to ensure that none contain Alphabet stock.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave A Reply

Your email address will not be published.