SEC Poking Around Sprint's Tax Collection Practices, Too
Sprint today revealed that the Securities and Exchange Commission is investing its state and local tax collection practices. The SEC's investigation follows a similar investigation filed by the attorney general of New York State earlier this year. "Sprint recently received a subpoena from the Securities and Exchange Commission in connection with its investigation of our practices in the collection and remittance of state and local taxes, including those in New York," said Sprint in a statement. "Sprint is cooperating with the SEC in regards to its inquiries and we believe our practices with respect to state and local taxes on mobile wireless services are in compliance with applicable law." Further, Sprint characterized New York State's ase as "without merit" and said it would "stand up for New York consumers' rights and fight this lawsuit."
Sprint to Face $300M Tax Fraud Charge In Court
Sprint lost its bid to have a $300 million lawsuit dismissed and will now face the State of New York in court. The office of New York Attorney General Eric Schneiderman alleges that Sprint failed to collect about $100 million in taxes from its New York-based customers over a period of seven years.
Qualcomm Settles with SEC Over China Incentives
Qualcomm today agreed to pay the SEC a fine of $7.5 million to settle an investigation being conducted over potential Foreign Corrupt Practices Act (FCPA) violations. The SEC alleges that Qualcomm improperly gave state representatives of China financial benefits including travel, jobs, gifts, and event tickets.
State Attorneys Respond to FCC Net Neutrality Vote with Lawsuits
A number of lawmakers and public officials at the state level have promised to fight the FCC's Dec. 14 vote to overturn net neutrality rules.
FTC Pondering Antitrust Query Into Google's Android
Google may be facing an investigation into its business practices concerning the Android operating system, reports Bloomberg. The U.S.