Medical device maker Zimmer Biomet Holdings Inc. agreed Thursday to pay $30.5 million to resolve DOJ and SEC investigations into the company’s "repeat" violations of the Foreign Corrupt Practices Act.
Entries in Biomet (25)
Zimmer Biomet Holdings Inc. said in a securities filing Monday "it is probable that Biomet will incur additional liabilities related to" DOJ and SEC investigations of FCPA violations that occurred after Biomet's FCPA settlement in 2012 and during its deferred prosecution agreement.
The DOJ said in a court filing this month that Biomet breached a 2012 deferred prosecution agreement "based on conduct in Brazil and Mexico."
Orthopedic device maker Zimmer Biomet Holdings Inc. said in a securities filing Friday the DOJ and SEC are still investigating possible FCPA violations in Brazil and Mexico.
Job Title: Compliance Counsel, Investigations
Employer: Zimmer Biomet
Location: Washington D.C.
During the first calendar quarter, there were two corporate FCPA enforcement actions -- both through SEC administrative orders -- and one individual resolution.
Orthopedic device maker Biomet Inc. said in an SEC filing that the DOJ has extended for another year its 2012 deferred prosecution agreement that was part of a 2012 FCPA enforcement action.
Orthopedic device maker Biomet Inc. said Thursday it was subpoenaed by the SEC for an investigation of possible violations of the terms of an FCPA settlement the company reached two years ago.
At the beginning of this year, China's president Xi Jinping promised to fight both "tigers" and "flies" -- high-ranking and low-ranking corrupt officials -- in his crackdown on corruption. Since then, the anti-graft campaign has led to the conviction of Bo Xilai and to the front-page investigations of foreign companies in the pharmaceutical and oil and gas sectors, among others.
Following a five-year investigation into the overseas marketing and sales practices of medical device makers, the DOJ and SEC won't bring any FCPA enforcement against one of the targeted companies, Zimmer Holdings Inc.
Twelve companies settled FCPA enforcement actions in 2012 by paying a total of $259.4 million.
Medical device maker Zimmer Holdings, Inc. said in an SEC filing yesterday that it can't predict the outcome of DOJ and SEC investigations into its overseas sales practices.