Snapshot: The Latest Medical Device FCPA Settlement

Law360, New York (July 19, 2012, 5:42 PM EDT) -- Recently, Orthofix International NV announced that it had settled Foreign Corrupt Practices Act charges with the U.S. Department of Justice and U.S. Securities and Exchange Commission, agreeing to pay a total of $7.44 million in fines and penalties.[1] At the heart of the matter were bribes — often called "chocolates" — paid to officials at the Mexican social security agency. Orthofix is the latest in a series of FCPA settlements following the industrywide probe. It underscores the need to implement an effective anti-corruption compliance program designed...
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