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Securities Law

Google’s Top Lawyer Settles With SEC

Posted Jul 23, 2007 8:06 AM CDT
By Debra Cassens Weiss

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Google’s chief in-house legal officer has agreed to pay $700,000 to settle a Securities and Exchange Commission complaint that he failed to prevent misleading accounting statements when he worked at a different company.

David Drummond agreed to the settlement on Thursday, PC World reports. The charges relate to his work as chief financial officer for SmartForce, a software company.

The SEC claimed SmartForce overstated revenue by $113.6 million and net income by $127 million in a three-year period while Drummond was CFO.

Drummond did not admit any wrongdoing, Associated Press reports. His attorney said he had not been trained as an accountant and was hired at SmartForce for his expertise in other corporate matters.

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