Wednesday, May 11, 2011

Google's filing with the Securities and Exchange Commission and DOJ investigation

From the filing:

"Charge Related to Potential Resolution of Department of Justice Investigation
In May 2011, in connection with a potential resolution of an investigation by the United States Department of Justice into the use of Google advertising by certain advertisers, we accrued $500 million for the three month period ended March 31, 2011. Although we cannot predict the ultimate outcome of this matter, we believe it will not have a material adverse effect on our business, consolidated financial position, results of operations, or cash flows."