Straight Path, Verizon Pay Record Fine to End FCC Investigation
Straight Path and Verizon paid a civil penalty of more than $600 million to the Treasury in connection with a 2017 settlement Straight Path entered into with the FCC Enforcement Bureau before the sale and transfer of its licenses to…
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Verizon (see 1701120046). “This payment is the largest civil penalty ever paid … to resolve a Commission investigation,” the FCC said in a news release. “The settlement resolved an investigation into allegations that Straight Path failed to use the spectrum it was awarded, and thus violated the Commission’s buildout and discontinuance rules in connection with approximately 1,000 licenses in certain millimeter wave spectrum bands.” The agency said the licenses are important to 5G. The deal closed Wednesday.