RAE Pays SEC $1.2M To Settle China Bribe Claims

Law360, New York (December 10, 2010, 5:30 PM EST) -- RAE Systems Inc. has agreed to pay $1.2 million to the U.S. Securities and Exchange Commission to settle claims that the gas and radiation detector maker’s employees violated the Foreign Corrupt Practices Act by paying off Chinese officials in exchange for government contracts.

RAE agreed to pay the settlement before the SEC filed charges, but has not admitted wrongdoing, the SEC said in a statement that accompanied the complaint the agency filed Friday in the U.S. District Court for the District of Columbia.

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Case Title

Eliason et al v. Gentek Building Products, Inc. et al


Case Number

1:10-cv-02093

Court

Ohio Northern

Nature of Suit

Contract: Other

Judge

Benita Y. Pearson

Date Filed

September 20, 2010

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