SEC, Avery Dennison Settle Over Chinese Kickbacks

Law360, New York (July 28, 2009, 9:56 PM EDT) -- Avery Dennison Corp. has agreed to pay over $500,000 to clear up allegations that the company made improper payments to officials in China in exchange for government contracts.

Avery will pay about $318,000 to settle a U.S. Securities and Exchange Commission administrative action accusing its Chinese holdings of offering kickbacks, sightseeing trips and gifts to Chinese government officials, the SEC said Tuesday.

Avery also agreed to pay an additional $200,000 civil penalty to settle an action simultaneously brought by the SEC in the U.S. District Court...
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