Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2012
Federal bribery and books-and-records settlement
FalconStor agreed to pay $5.8 million in a federal investigation settlement after admitting that employees provided more than $300,000 in improper benefits, including restricted stock shares and golf memberships, to JPMorgan Chase executives in exchange for contracts. The company was also charged with falsifying corporate books and records associated with the payments.
2010
Improper-payment allegations and executive resignation
Co-founder and chief executive ReiJane Huai resigned in September 2010 amid allegations concerning improper payments. The episode preceded a federal case and created a major leadership and governance crisis for FalconStor.