secwatch.observer — SEC 8-K summary
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Issuer:     EXTREME NETWORKS INC (EXTR)
CIK:        0001078271
Form:       8-K
Filed at:   2022-10-12T23:59:59+00:00
Accession:  0001193125-22-261213
Event type: other_material
Sentiment:  negative
Materiality: 0.50
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Extreme Networks discloses former employee sold $645K in products to Russian sanctioned company
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- Total misappropriated product sales from 2018-2021 estimated at $645,000, less than 0.01% of global revenue.
- Distributor scheme involved a front business (DEMZ) for MMZ Avangard, a Russian military contractor subsidiary.
- Former employee terminated for performance continued scheme after joining the distributor.
- Extreme ceased operations in Russia in March 2022; investigation ongoing with outside counsel Latham & Watkins.
- Company notified U.S. regulators and is reviewing potential involvement of other current/former employees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1078271/000119312522261213/0001193125-22-261213-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1078271/000119312522261213/d407295d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-261213

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