Violation Tracker Individual Record

Company: 
FalconStor Software, Inc.
Penalty: 
$2,900,000
Year: 
2012
Date: 
June 27, 2012
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
kickbacks and bribery
Violation Description: 

FalconStor Software, Inc., a Long Island, N.Y., data storage company, agreed to pay $2.9 million to settle SEC allegations that it misled investors about bribes it paid to obtain business with a subsidiary of J.P. Morgan Chase & Co.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.