Shareholder sues Google to block stock split

Google and its board were sued by a shareholder who wants to block the company's stock split plan because it entrenches the Web search company's co-founders Larry Page and Sergey Brin, according to court documents.

Google announced the surprise stock split plan earlier this month, in which shareholders would get one new share of non-voting "Class C" stock for each existing "Class A" share. As a result, Google will be able to issue new shares for acquisitions and employee compensation without diluting the 56.3 percent voting stake enjoyed by Page and Brin or diminishing their "iron-clad grip" on Google, according to the complaint.