Google Receives SEC Inquiry for Information on MotorolaBrian Womack
Google Inc. received inquiries from the U.S. Securities and Exchange Commission over the company’s sales from advertising and mobile-phone unit Motorola Mobility, regulatory filings show.
The world’s largest Internet search provider said it first received a letter in April and has been corresponding with the agency, according to a Feb. 12 filing. The SEC is seeking more detail in a section of the company’s 2012 annual report.
“We believe that we have properly disclosed information related to advertising and Motorola revenues and will continue to cooperate with the SEC to resolve the comments,” Google said in the filing.
As Google expands its size and reach, the company has also come under regulatory scrutiny regarding issues such as privacy and antitrust concerns. The SEC has previously sent requests to Google concerning public filings, including in 2008, when the agency raised questions over the accounting of payments related to “distribution arrangements.”
Judith Burns, a spokeswoman for the SEC, declined to comment.
Google, based in Mountain View, California, agreed last month to sell Motorola to Lenovo Group Ltd. for $2.91 billion.