December 21, 2018

DOJ issues declination letter to US telecommunications company; SEC investigation still pending

Ciena Corporation, a US-based telecommunications network supplier, reported in today’s Form 10-K filing that one of its third-party vendors in an unnamed  Asian country raised questions about potentially improper payments to an individual employed by one of its customers.  In September 2017, Ciena voluntarily disclosed to the SEC and DOJ the results of the company’s internal investigation into the matter.  On December 10, 2018, the DOJ advised Ciena that it has declined to prosecute the matter and that its investigation is now closed.  Ciena noted that it is continuing to cooperate with the SEC in its investigation and that discussions with the agency are ongoing.

Form 10-K