8-KOther Events

CORNING INC /NY 8-K Report, Corporate Update (May 16, 2016)

Filed May 16, 2016For Securities:GLW

Summary

Corning Incorporated (GLW) filed an 8-K on May 16, 2016, to report a resolution with the U.S. Department of Justice (DOJ) concerning a previously disclosed government investigation. The investigation focused on potential antitrust law violations by its Japanese subsidiary, Corning International, K.K. (CIKK), related to certain automotive products. As part of the resolution, CIKK entered into a plea agreement with the DOJ and agreed to pay a criminal fine of $66.5 million. This filing primarily serves to inform investors about the conclusion of this specific investigation and the associated financial penalty, bringing a degree of certainty to this matter.

Key Highlights

  • 1Corning Incorporated's Japanese subsidiary, Corning International, K.K. (CIKK), reached a resolution with the U.S. Department of Justice (DOJ).
  • 2The resolution pertains to a government investigation into alleged antitrust law violations concerning certain automotive products.
  • 3CIKK entered into a plea agreement with the DOJ on May 16, 2016.
  • 4Corning will pay a criminal fine of $66.5 million as part of this resolution.
  • 5This filing updates investors on the conclusion of this specific regulatory matter.
  • 6The press release dated May 16, 2016, is included as an exhibit.

Frequently Asked Questions

The DOJ investigation involved potential antitrust law violations by Corning International, K.K. (CIKK), a Japanese subsidiary of Corning Incorporated, related to certain automotive products.

The resolution requires CIKK to pay a criminal fine of $66.5 million to the DOJ. This amount represents the primary financial consequence disclosed in this filing.

Yes, Corning Incorporated announced on May 16, 2016, that its subsidiary CIKK reached a resolution with the DOJ, including entering a plea agreement. This filing marks the official notification of this conclusion.

This specific 8-K filing focuses solely on the resolution with the DOJ regarding the antitrust investigation into CIKK. It does not provide information on other potential legal or regulatory matters.