Defendant Name: Ionics, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: General Electric Company
SIC Code: 3511
CUSIP: 36960410

Initial Case Details

Legal Case Name SEC v. General Electric Company, Ionics, Inc. and Amersham plc
First Document Date 27-Jul-2010
Initial Filing Format Civil Proceeding
Case Number 10-cv-01258
Allegation Type Foreign Corrupt Practices Act
Federal District Court District of Columbia, District of Columbia

Violations Alleged

Exchange Act
Sec 13(b)(2)(A)
Sec 13(b)(2)(B)


First Resolution Date 27-Jul-2010

Related Documents:

LR-21602 27-Jul-2010 Litigation Release
SEC Files Settled Books and Records and Internal Controls Charges Against General Electric Company and two Subsidiaries for Improper Payments to Iraqi Ministries Under the U.N. Oil for Food Program. GE Agrees to Pay Over $23.4 Million in Disgorgement, Interest, and Penalties
On July 27, 2010, the SEC published a litigation release announcing that it filed a settled civil action against Ionics, Inc., General Electric Company, and Amersham plc, charging the companies with violations of the Foreign Corrupt Practices Act, books and records, and internal controls.
comp21602 27-Jul-2010 Complaint
On July 27, 2010, the SEC filed a complaint against and Ionics, Inc., Amersham plc, and General Electric Company. According to the SEC: "This case involves the payment of illegal kickbacks to Iraqi government ministries in connection with sales of humanitarian goods under the United Nations ("UN") Oil for Food Program..."
2010-133 27-Jul-2010 Press Release--Civil Action
SEC Charges General Electric and Two Subsidiaries with FCPA Violations
On July 27, 2010, the SEC announced that it charged General Electric Company ("GE") and two subsidiaries--Ionics Inc. ("Ionics") and Amersham plc ("Amersham")--with violations of the Foreign Corrupt Practices Act ("FCPA") for its involvement in a $3.6 million kickback scheme with Iraqi government agencies to win contracts to supply medical equipment and water purification equipment. Without admitting or denying the SEC's allegations, GE as well as Ionics (now GE Ionics Inc.) and Amersham (now GE Healthcare Ltd.) have consented to the entry of a court order permanently enjoining them from future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934. GE is ordered to pay $18,397,949 in disgorgement of profits, $4,080,665 in prejudgment interest, and a penalty of $1 million. According to the SEC, GE cooperated with the investigation.
court_doc3_10-cv-01258 30-Jul-2010 Court Docket Document
Final Judgment as to Defendants General Electric Company, Ionics, Inc., and Amersham plc
On July 30, 2010, Federal District Judge Richard W. Roberts entered final judgment against General Electric Company, Ionics, Inc., and Amersham plc.

Other Defendants in Action: