Defendant Name: Ribbon Communications Inc.

Defendant Type: Public Company
SIC Code: 3661
CUSIP: 76254410

Document Reference: 2018-150

Document Details

Legal Case Name In the Matter of Ribbon Communications Inc., Mark Greenquist, and Michael Swade
Document Name SEC Charges Cloud Communications Company and Two Senior Executives With Misleading Revenue Projections
Document Date 07-Aug-2018
Document Format Administrative Proceeding
File Number 3-18624
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission stated that: "The Securities and Exchange Commission today charged a cloud communications company and two executives with providing misleading quarterly revenue estimates. The company and executives agreed to pay over $1.9 million in penalties to settle the SEC's charges."

Related Documents:

33-10528 07-Aug-2018 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant To Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
The Commission stated: "This matter concerns two material misstatements made by Sonus Networks, Inc. ("Sonus") on January 8, 2015 and February 18, 2015, concerning its quarterly revenue estimates and guidance for the three months ended March 27, 2015 ("Q1 2015") ... At the time the January 8 and February 18 Statements were made, there was internal Sonus information and data which indicated that the $74 million Q1 2015 revenue estimates were materially misleading."

Other Defendants in Action:

Michael Swade
Mark Greenquist