Rockwell Pays SEC $2.7M To Settle FCPA Probe

Law360, New York (May 3, 2011, 6:51 PM EDT) -- Rockwell Automation Inc. on Tuesday agreed to pay $2.7 million to settle the U.S. Securities and Exchange Commission’s probe into bribes the company’s former subsidiary in China paid to secure coal mining and other government contracts.

The SEC issued a cease-and-desist order after Rockwell offered to forfeit $1.8 million in profits, pay $590,000 in interest and shell out an additional $400,000 in penalties in connection with payments its former Shanghai unit made to state employees in order to massage sales to coal mining and processing companies....
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