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Comverse To Pay $2.8M To End FCPA Cases

Law360 (April 7, 2011, 5:08 PM EDT) -- Comverse Technology Inc. agreed Thursday in New York to pay $2.8 million in penalties and civil disgorgement to resolve two cases over allegations that it violated U.S. foreign bribery laws to win Greek telecommunications contracts.

The U.S. Securities and Exchange Commission said the software company agreed to pay $1.6 million in disgorgement and prejudgment interest to resolve civil allegations, laid out in a compliant in the U.S. District Court for the Eastern District of New York, that it violated internal control and books and records provisions...
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