Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
CCO.US
id: 953

Clear Channel (CCO) Foreign Corrupt Practices Violations Case

  • In September, a $26 million payment by Clear Channel to resolve charges of FCPA violations was announced.
  • On it, $CCO fell 3.1%, losing $24M+ of shareholder value.
  • Investors may have grounds to suspect Clear Channel of illegal conduct, which led to their losses.
On September 28, 2023, it was announced that Clear Channel agreed to pay over $26 million to resolve charges that it had violated the Foreign Corrupt Practices Act (FCPA) by bribing Chinese government officials to obtain contracts.
  • Additionally announced that Clear Channel used sham intermediaries and false invoices to generate cash for off-book payments.
  • Also announced that the company also had inadequate internal controls in place.
On this news, $CCO fell 3.1% and lost over $24 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Clear Channel and its executives engaged in illegal activities, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
29 September 2023
Collecting participants…

Clear Channel Outdoor Holdings Inc

Clear Channel Outdoor Holdings, Inc. operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other...

    Ticker
    CCO.US
    ISIN
    US18453H1068
    CIK
    1334978
    Sector
    Communication Services
    Industry
    Advertising Agencies
    Country
    USA
    Address
    4830 North Loop 1604 West, San Antonio, TX, United States, 78249