Juniper under investigation for foreign corrupt practice

Next generation networking specialist Juniper is ill at ease on the stock market this week following the revelation Friday that it is being investigated by the US anti corruption authority.

In an SEC filing made Friday, Juniper Networks said the US Securities and Exchange Commission and the US Department of Justice are conducting investigations into possible violations by the company of the US Foreign Corrupt Practices Act. “The Company is cooperating with these agencies regarding these matters. The Company is unable to predict the duration, scope or outcome of these investigations,” Juniper said.

No further information was available but press reports have picked up on the fact that as of last year Juniper generates more than 50 per cent of its sales from foreign markets.

The company reported total net revenues of $1.2bn for the quarter to end May 2013, up from $1bn in the same period one year ago. Net income for the quarter jumped to $98m from $58m a year ago.