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Tax penalty claims against Cisco are growing at a staggering $11.7 million per day
Wed, 2/23/11 - 5:39pm    View comments

Wow! Tax penalty claims against Cisco reached an astonishing $3.215 billion as of January 29, 2011.

That means over just 91 days (since October 30, 2010), tax penalty claims against Cisco grew at the staggering rate of $11.7 million per day.

So perhaps there's a very good reason that Cisco has been hoarding its cash overseas and not paying a dividend, it might need all that cash just to pay tax penalty claims against Cisco!

Related story:

Fired top Cisco exec has been cleared of all criminal charges by court

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