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News Breaks
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February 6, 2012
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| 11:24 EDT |  | SNN |
| theflyonthewall.com: | Smith & Nephew settles with U.S. government | | Smith & Nephew (SNN) announces that it and its U.S. subsidiary, Smith & Nephew, Inc., have reached settlements with the U.S. SEC and U.S. Department of Justice in connection with their Foreign Corrupt Practices Act investigation of the medical device industry. Smith & Nephew has committed to pay $22,226,799 in fines and profit disgorgement, maintain an enhanced compliance programme, and appoint an independent monitor for at least 18 months to review and report on its compliance programme. The Group provided for this payment in its earnings for the fourth quarter of 2011. :theflyonthewall.com |
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