The company settled charges that it had violated U.S. foreign bribery law in connection with an ongoing sweep of the medical device industry. UPDATED 5:13 p.m. with additional comment from Biomet.
Shareholders allege that Avon and two top executives knew that bribes might have been paid in China yet told investors that compliance measures were sound.
Employees at a subsidiary of Bruker Corporation have been fired after an internal probe found that improper payments had been made to Chinese officials.
W.W. Grainger Inc. said in a securities filing that an internal review raised potential Foreign Corrupt Practices Act violations. UPDATED 2:48 p.m. with comment from a company spokesperson.
Another judge is on record against the kind of “bright line” definition that the business lobby would like to see.
The San Diego-based electrical components company settled with shareholders on behalf of its board of directors and several executives.
U.S. exporters are increasingly being duped into selling to end users in Iran, China and other restricted countries that seek illegally to acquire U.S. technology or get around export bans.
A former Motorola employee was found guilty in Chicago Wednesday of trying to smuggle trade secrets into China.
An estimated $903 billion illegally flowed out of developing countries in 2009, despite the economic downturn that hit the global market in 2008.