Whats behind Googles diminishing allure?
Sure, some of the dark clouds over Google could be the result of potential investors talking down the company’s prospects in hopes of snatching up shares during Google’s IPO auction. But the company itself is responsible for much of the recent bad press. Probably most disconcerting to investors and pundits alike is Google’s revelation in its IPO paperwork that it may have violated securities laws by allocating millions of unregistered shares to employees and consultants. To rectify the problem, Google has offered to buy back the 23 million-plus shares at a cost of $26 million. The move likely will mollify the Securities & Exchange Commission and state watchdogs, say securities attorneys. But it certainly raises serious questions for investors. If the company managed to flub such a mass distribution of shares, perhaps it is capable of even more costly mistakes. That’s not all. Google’s squeaky-clean image also took a hit on July 20, when its top lawyer, David C. Drummond, was notified b
