NCR Says It Received SEC Subpoena Over Whistle-Blower’s Claims
NCR Corp. (NCR), a maker of automated teller machines and payment systems, received a subpoena from the U.S. Securities and Exchange Commission over a whistle- blower’s claims that it may have violated anti-bribery laws.
The company is cooperating with the SEC, a representative of Duluth, Georgia-based NCR, said yesterday on a conference call.
NCR had said in August that it received claims by a “purported whistle-blower” over aspects of its business practices in China, the Middle East and Africa. The actions alleged “might constitute violations of the Foreign Corrupt Practices Act,” the August filing said.
The company also is cooperating with the Treasury Department’s Office of Foreign Assets Control, and the U.S. Attorney’s office for the Northern District of Georgia, Gavin Bell, NCR’s vice president of investor relations, said yesterday on the company’s third-quarter earnings call with analysts.
“We are making good progress toward completing our internal investigation in a thorough and expeditious manner” in conjunction with outside counsel, Bell said. The investigation’s goal is to refute untrue allegations by the whistleblower and take “appropriate, remedial action” on allegations that may be true, he said.
Technology companies including Oracle Corp., International Business Machines Corp. and Hewlett-Packard Co. also have dealt with investigations related to the Foreign Corrupt Practices Act in recent years.
Lou Casale, a spokesman for NCR, said in an e-mail that the company has retained the law firm Cravath Swaine & Moore LLP to assist in its investigation.
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