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Wednesday, September 1, 2010
Volume:
26
Issue:
10
Abstract:
On July 27, 2010, General Electric Company and two subsidiaries, Oionics Inc. and Amersham plc, consented to the entry of a court order permanently enjoining them from future violations of U.S. securities laws and agreed to a settlement in which it must pay $18,397,949 in disgorgement of profits, $4,080,665 in prejudgment interest, and a penalty of $1 million, all relating to violations of the Foreign Corrupt Practices Act (FCPA) for their involvement in a $3.6 million kickback scheme with Iraqi government agencies to obtain contracts to furnish medical equipment and water purification equipment...(more)...