Defendant Name: Clear Channel Outdoor Holdings, Inc.

Defendant Type: Public Company
SIC Code: 7312
CUSIP: 18453H10

Initial Case Details

Legal Case Name In the Matter of Clear Channel Outdoor Holdings, Inc.
First Document Date 28-Sep-2023
Initial Filing Format Administrative Action
File Number 3-21755
Allegation Type Foreign Corrupt Practices Act
AAER 4466

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 30A

Resolutions

First Resolution Date 28-Sep-2023
Headline Total Penalty and Disgorgement $26,000,000

Related Documents:

34-98615 28-Sep-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On September 28, 2023, the SEC instituted settled cease-and-desist proceedings against Clear Channel Outdoor Holdings, Inc., stating: "This matter concerns violations of the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 (“FCPA”) by Clear Channel Outdoor Holdings, Inc. (“CCOH”), a Texas-headquartered company in the out-of-home advertising industry, in connection with the actions of its agent, CCOH’s former indirect, majority-owned Chinese subsidiary, Clear Media Limited (“Clear Media”)."
2023-206 28-Sep-2023 Press Release--Administrative Proceeding
SEC Charges Clear Channel Outdoor with FCPA Violations Relating to China Subsidiary
On September 28, 2023, the SEC "announced that Clear Channel Outdoor Holdings Inc. agreed to pay more than $26 million to resolve charges that it bribed Chinese government officials to obtain outdoor advertising contracts in violation of the Foreign Corrupt Practices Act (FCPA)."