Google Stock Plummets After Premature Earnings Release

Law360, New York (October 18, 2012, 7:22 PM EDT) -- Google Inc. mistakenly released its disappointing third-quarter earnings Thursday several hours before the markets closed, sending the tech giant's stock into a tailspin that raised the possibility of legal fallout.

The company issued a public, midday securities filing to the U.S. Securities and Exchange Commission announcing quarterly earnings of $9.03 per share, far below what analysts had predicted. Google also reported net income that marked a 20 percent decline from this period last year.

At the top of the filing were the words “PENDING LARRY QUOTE,”...
To view the full article, register now.