Defendant Name: Bio-Rad Laboratories, Inc.

Defendant Type: Public Company
SIC Code: 3826
CUSIP: 09057210

Initial Case Details

Legal Case Name In the Matter of Bio-Rad Laboratories, Inc.
First Document Date 03-Nov-2014
Initial Filing Format Administrative Action
File Number 3-16231
Allegation Type Foreign Corrupt Practices Act
AAER 3594

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 30A

Resolutions

First Resolution Date 03-Nov-2014
Headline Total Penalty and Disgorgement $40,700,000

Related Documents:

34-73496 03-Nov-2014 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On November 3, the SEC instituted settled administrative proceedings against Bio-Rad Laboratories, Inc. arising from violations of the Foreign Corrupt Practices Act concerning medical diagnostic and life science equipment sales to government customers in Russia, Vietnam, and Thailand. The SEC alleged: "From approximately 2005 to 2010, subsidiaries of Bio-Rad made unlawful payments in Vietnam and Thailand to obtain or retain business. During the same period, Bio-Rad's subsidiary paid certain Russian third parties, disregarding the high probability that at least some of the money would be used to make unlawful payments to government officials in Russia."
2014-245 03-Nov-2014 Press Release--Administrative Proceeding
SEC Charges California-Based Bio-Rad Laboratories With FCPA Violations
On November 3, 2014 the SEC charged Bio-Rad Laboratories with violations of the FCPA arising from improper payments to foreign officials in Russia, Vietnam, and Thailand. According to the Commission, "Bio-Rad Laboratories lacked sufficient internal controls to prevent or detect approximately $7.5 million in bribes that were paid during a five-year period and improperly recorded in books and records as legitimate expenses...." Bio-Rad, self-reported the misconduct and cooperated with the SEC.