CCO - Clear Channel Settles SEC Probe Over Chinese Subsidiary Bribery Charges | Benzinga
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) finalized a settlement with the U.S. Securities and Exchange Commission.
The company has agreed to pay the SEC approximately $26.1 million in disgorgement, civil penalties, and pre-judgment interest.
The resolution pertains to a probe involving the U.S. Foreign Corrupt Practices Act, connected to its former indirect, non-wholly-owned Chinese subsidiary, Clear Media Limited.
"The SEC resolution pertains to the actions of Clear Media in China, and to the Company's oversight of ...