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SEC Says Google's Lawyers Goofed

By Marie-Anne Hogarth
January 28, 2005

Google and its general counsel, David Drummond, reached a settlement with the Securities and Exchange Commission in connection with the company's failure to register more than $80 million in employee stock options in the 2 years prior to its IPO.

Google and Drummond were not fined, but they did agree to cease and desist from future securities laws violations. Under the terms of the settlement, Drummond and Google neither admit nor deny the SEC's findings.

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