Aeroflex Case Highlights Export Compliance Challenges
August 30, 2013, 11:48 AM EDT
Law360, New York (August 30, 2013, 11:48 AM EDT) -- Aeroflex Inc., a U.S. producer of microelectronics devices, recently settled allegations that its exports of certain types of semiconductor devices violated the International Traffic in Arms Regulations. The settlement, in which Aeroflex neither admitted nor denied the allegations, consists of payment of up to $8 million and imposition of an extensive range of compliance measures, reports and training.
The U.S. State Department estimated that roughly 50,000 semiconductor devices related mostly to civilian satellites and space vehicles were exported over a 10-year period without the necessary ITAR...