Thndr Claps » U.S. Claps » Tech 📲 » Oracle hit with hefty fine 🖥
The ClapOracle (NYSE: ORCL) will pay around $23 million due to bribing accusations in its units in Turkey, UAE, and India.The DeetsOracle was accused of bribing foreign officials to win business and paying for foreign officials to attend technology conferences.This is the second offense for Oracle, as Oracle had to pay a $2 million fine to settle SEC charges in 2012.Why this MattersOracle’s stock closed the session down 1.56% and has declined around 29% YTD.What NowOracle will pay a $15 million civil fine in addition to $7.9 million from profits made from the act.
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