Defendant Name:
Ribbon Communications Inc.
Defendant Type:
Public Company
SIC Code:
3661
CUSIP:
76254410
Document Reference:
33-10528
Document Details
Legal Case Name
In the Matter of Ribbon Communications Inc., Mark Greenquist, and Michael Swade
Document Name
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
Document Date
07-Aug-2018
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$1,900,000.00
Shared:
Other Defendants in Action:
