Information  X 
Enter a valid email address

IMI PLC (IMI)

  Print      Mail a friend

Monday 03 August, 2009

IMI PLC

Severe Service Investigation

RNS Number : 7244W
IMI PLC
03 August 2009
 







3 August 2009


IMI plc 


Severe Service Investigation Update


IMI plc announces agreement to a settlement with the US Department of Justice (DoJ) in respect of certain irregular payments by its US subsidiary Control Components Inc (CCI). As part of a plea agreement CCI will pay a fine of $18.2 million (which is wholly covered by a provision in the Group's 2008 accounts) and continue to co-operate with the DoJ in its ongoing investigations of certain former employees of CCI. CCI will also be subject to oversight by an independent compliance monitor.

IMI confirms that certain former employees of CCI have been indicted by
the DoJ for offences related to the investigation. No current employees of CCI or the IMI Group have been prosecuted by the DoJ. 



- Ends -


Enquiries:




Weber Shandwick Financial


Nick Oborne / Stephanie Badjonat

Tel:    020 7067 0700

                    


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCCKBKKOBKDCFK