01:08 PM EDT, 06/02/2025 (MT Newswires) -- (Updates with Google's ( GOOG ) response in the last paragraph.)

Alphabet (GOOG, GOOGL) and Google ( GOOG ) have agreed to spend $500 million over the next 10 years to improve their compliance systems as part of a settlement with shareholders, according to court documents.

The suit claimed that "Alphabet engaged in systematic anticompetitive behavior across several core business operations, including advertising, searching, and Google Play services" under the board's oversight.

The proposed settlement, filed in court on Friday, must be approved by a US judge in San Francisco, according to the document.

Under the deal, Google ( GOOG ) will create a new board committee, dubbed the Risk and Compliance Committee, which would be separate from its current Audit and Compliance Committee. It will also form a senior executive committee that reports directly to Chief Executive Sundar Pichai and a compliance group made up of product managers and internal experts, the document said.

The settlement deal also says that the reforms should be in place for at least four years to ensure they "lead to a deeply rooted culture change."

The individual defendants deny all allegations of wrongdoing and liability related to the actions, statements, or omissions mentioned or that could have been mentioned in the lawsuit, the document said.

"Over the years, we have devoted substantial resources to building robust compliance processes. To avoid protracted litigation, we're happy to make these commitments as we continue to prioritize our compliance obligations," a Google ( GOOG ) spokesperson told MT Newswires.

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