Business

Cisco probed by SEC over bribery-related allegations in Russia

Economy, Business and FinanceU.S. Securities and Exchange CommissionU.S. Department of Justice

Cisco Systems Inc. is being investigated by the U.S. Securities and Exchange Commission and the U.S. Department of Justice over bribery related allegations against its operations in Russia and neighboring countries.

The biggest maker of computer-networking equipment disclosed the probes in a regulatory filing, which said the company or its resellers may have violated the U.S. Foreign Corrupt Practices Act in Russia and some countries in the Commonwealth of Independent States. The Wall Street Journal first reported the disclosure Thursday.

Cisco, based in San Jose, said it didn't anticipate that the results will have a material effect on its finances.

"The company takes any such allegations very seriously and is fully cooperating with and sharing the results of its investigation with the Commission and the Department," Cisco wrote in the filing.

Copyright © 2014, Los Angeles Times
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