Alphabet’s chief legal officer sells another $77 million worth of stocks in January

As per SEC’s Thursday filings, the chief legal officer, David Drummond of Alphabet Inc. has dumped $77 million of his company shares. Drummond is currently under investigation on charges of sexual misconduct. The recent sale also included all of Drummond’s class A shares as well.

In the Class A and C category, Drummond has so far sold a total of around 28,000 shares, as per the SEC filings. As of Friday, Drummond still owns over 67,000 Class C shares with a total value of $92 million. A proxy filing by the company in April showed that Drummond also owned 12,500 Class B shares.

Drummond Dumped $70 Million Worth Of Shares Each In November And December

Drummond had also announced the sale of around $70 million worth of his shares in November and December of 2019. The latter was announced right before the Alphabet’s co-founders, Larry Page and Sergey Brin stepped down from their leadership positions. In 2018, the SEC filings highlight, the chief legal officer had dumped a total of $70 million worth of stocks.

Drummond has served the American multinational tech company for almost 18 years. Alphabet had received a lawsuit from its shareholders in 2019 against multiple of its executives. Following an investigation launched towards the end of 2019 by the board, Drummond was accused of sexual misconduct at the workplace and making inappropriate advances towards female employees.

Alphabet refused to comment on the news at this stage.

Alphabet’s board was sued by the shareholders in January 2019 for its attempt to hide the sexual incidents of sexual misconduct that involved a few of its top executives including Android founder, Andy Rubin, and the chief legal officer, David Drummond. The accusation of sexual harassment on Rubin was later found to be true, following which, he was ousted from the company with a $90 million exit package. Drummond, on the other hand, is still under investigation for the accusation.

Former Google Employee Accused Drummond Of An Intimate Relationship In 2004

Jennifer Blakely, a former employee at Alphabet Inc., had previously taken the details of her relationship with Drummond to social media in 2004. Drummond, however, denies all such claims that he has ever been in an intimate relationship with a fellow worker. Rubin had also claimed innocence in his case of sexual misconduct.

As of December, Alphabet has an extension of two months to respond to the lawsuit by the shareholders. The court filings, however, highlight that the company is confident that the investigation has already been concluded and Alphabet will not look for mediation.