Rigrodsky
& Long, P.A. announces that it is investigating whether certain
officers and directors of Bio-Rad Laboratories, Inc. (“Bio-Rad” or the
“Company”) (NYSE: BIO)
breached their fiduciary duties to shareholders.
On November 3, 2014, Bio-Rad announced the full resolution of previously
disclosed investigations by the U.S. Department of Justice (“DOJ”) and
Securities and Exchange Commission (“SEC”) into past violations of the
Foreign Corrupt Practices Act (“FCPA”) that occurred from 2005 to 2010
related to Thailand, Vietnam, and Russia.
Although the DOJ declined to prosecute Bio-Rad, the parties entered into
a Non-Prosecution Agreement under which Bio-Rad has agreed to pay a
penalty of $14.35 million. Under the terms of the civil settlement with
the SEC, the Company will pay $40.7 million in disgorgement and
prejudgment interest. The Company has also agreed to certain future
reporting, compliance and self-monitoring provisions over the next two
years.
If you own the common stock of Bio-Rad and would like to learn more
about the investigation, please contact Seth D. Rigrodsky or Gina M.
Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120,
Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com,
or at: http://www.rigrodskylong.com/investigations/bio-rad-laboratories-inc-bio.
Rigrodsky
& Long, P.A., with offices in Wilmington, Delaware and Garden
City, New York, regularly prosecutes securities
class, derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in states
and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Copyright Business Wire 2014