Google (GOOG)

In addition, the stock market in general, and the market for technology companies in particular,
have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of

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those companies. These broad market and industry factors may seriously harm the market price of our Class A common stock, regardless of our actual
operating performance. In the past, following periods of volatility in the overall market and the market price of a company’s securities, securities class-action litigation has often been instituted against these companies. This litigation, if
instituted against us, could result in substantial costs and a diversion of our management’s attention and resources.

In addition, the stock market in general, and the market for technology companies in particular, have experienced
extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of those companies. These broad market and industry factors may seriously harm the market price of our Class A common stock,
regardless of our actual operating performance. In the past, following periods of volatility in the overall market and the market price of a company’s securities, securities class action litigation has often been instituted against these
companies. This litigation, if instituted against us, could result in substantial costs and a diversion of our management’s attention and resources.

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