Shares of Cisco (CSC) declined for a second day following reports that the company is investigating whether some of its activities in Russia and nearby Commonwealth of Independent States (CIS) nations violated a U.S. law against bribery of foreign officials.
In an SEC filing, Cisco said it was looking into the matter at the request of the SEC and Department of Justice. The questions raised concern whether Cisco or its resellers in those nations violated the U.S. Foreign Corrupt Practices Act of 1977, Cisco said.
Cisco said the investigation is not expected to have material adverse impact on its operations, since Russia and the CIS nations represent only 2% of Cisco’s revenues.
Suggested Reading: Most Valuble Brands in 2013