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December 10, 2013
10:38 EDTORBKOrbotech subsidiary, five out of six employees acquitted on all charges
Orbotech announced that the Seoul Central District Court of the Republic of Korea issued an oral decision in the criminal proceeding against the Korean subsidiary of Orbotech Ltd. and six employees thereof. As part of the Courtís ruling, the companyís Korean subsidiary and five of its employees were acquitted on all charges. One employee was found guilty of certain legal violations and received a criminal fine of approximately $10,000. The company and its Korean subsidiary are gratified by the Courtís decision, which affirms their faith in the Korean justice system and the companyís consistent position that it has safeguarded customersí information from inappropriate disclosure in all circumstances. The companyís Korean subsidiary and its employees do not expect to appeal the Courtís ruling at this time; however, the prosecutorís office may appeal the Courtís verdict and any notice of appeal must be filed within 7 days of todayís verdict. The investigation by the Korean prosecutorís office into actions of certain employees of the company outside of Korea remains ongoing. The companyís Korean subsidiary continues to co-operate with the Korean authorities in connection with that investigation. The fiscal effect of these matters on the company thus far in 2013 has not been material; however, the company expects to continue to incur fees and expenses in connection therewith in future periods. Comments taken from a 6-K filing.
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