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Cisco Will Not Face Legal Action in Chinese Kickback Scheme
Networking giant says it has been given the all clear from the SEC and DOJ.
February 26, 2022
For the last year Cisco (CSCO) has been under investigation for its role in a Chinese kickback scheme in which several now ex-employees effectively bribed certain employees at Chinese state owned enterprises. Cisco characterizes the matter as a self-enrichment scheme and shared the findings of its internal investigation with U.S. regulators and federal law enforcement authorities.
In its latest 10-Q, Cisco suggested the matter is now closed:
“Based on the investigation results, both the SEC and the DOJ have informed the Company that they do not plan to take any action against the Company in connection with these allegations.”
Related: ORCL, ANET, VMW, ZM, NTGR, JNPR
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