Oracle (ORCL) Subject to U.S. Antibribery Probe in African Dealings
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Price: $35.10 +0.57%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.6%
Revenue Growth %: -1.5%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.6%
Revenue Growth %: -1.5%
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Oracle (Nasdaq: ORCL) is showing some early weakness Wednesday, following reports it may be under investigation by U.S. authorities for it's relationships with African governments.
Probes involve whether or not Oracle violated antibribery laws when it dealt with African governments. The investigation has been going one for the last year by the U.S. Department of Justice, according to the WSJ. The SEC is also investigating for possible civil violations.
Investigators a seeking to find whether or not reps for Oracle participated in inappropriate dealings when attempting to land contracts in Central and West African nations. The U.S. passed the Foreign Corrupt Practices Act in 1977 to stem such dealings.
Shares are off about 0.4 percent Wednesday.
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Probes involve whether or not Oracle violated antibribery laws when it dealt with African governments. The investigation has been going one for the last year by the U.S. Department of Justice, according to the WSJ. The SEC is also investigating for possible civil violations.
Investigators a seeking to find whether or not reps for Oracle participated in inappropriate dealings when attempting to land contracts in Central and West African nations. The U.S. passed the Foreign Corrupt Practices Act in 1977 to stem such dealings.
Shares are off about 0.4 percent Wednesday.
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