Defendant Name:
Clear Channel Outdoor Holdings, Inc.
Defendant Type:
Public Company
SIC Code:
7312
CUSIP:
18453H10
Document Reference:
34-98615
Document Details
Legal Case Name
In the Matter of Clear Channel Outdoor Holdings, Inc.
Document Name
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
Document Date
28-Sep-2023
Document Format
Administrative Proceeding
AAER
4466
Allegation Type
Foreign Corrupt Practices Act
Document Summary
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”)."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$16,355,567.00
Shared:
Civil Penalty
Individual:
$6,000,000.00
Shared:
Pre-Judgment Interest
Individual:
$3,760,920.00
Shared:
