Plantronics to pay USD 36 million to settle SEC investigation into Polycom

Headsets maker Plantronics Inc said on Wednesday it has entered an agreement with the US Securities and Exchange Commission to settle an investigation into Polycom Inc, which it acquired in July.

Plantronics will pay USD 36 million to settle the investigation, which began after Polycom reported it discovered evidence of “possible improper behaviour” by former employees at its China unit.

Plantronics, which bought Polycom in a USD 2 billion deal in July, said the incident happened prior to the video conferencing equipment maker going private in 2016.

The company in August said the SEC and the US Department of Justice (DOJ) were investigating into possible violations of the Foreign Corrupt Practices Act by Polycom.

Polycom has neither admitted nor denied the SEC’s allegations, Plantronics said in a statement.

The company said the DOJ cited Polycom’s voluntary disclosure and full cooperation to close its investigation.

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