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FalconStor to pay $5 million to settle class-action suit
Photo credit: Steve Pfost, 2011
FalconStor Software Inc., a Melville-based data-storage company, has agreed to pay $5 million to settle a class-action shareholder lawsuit stemming from a federal probe into a bribery scheme involving the company's former chief executive.
The scheme involved FalconStor's former chief executive, ReiJane Huai, and two former salesmen who allegedly paid $300,000 in bribes to executives at JPMorgan...
