Defendant Name: Bio-Rad Laboratories, Inc.

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

Document Reference: 34-73496

Document Details

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

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:

Disgorgement

Individual:     $35,100,000.00 Shared:    

Pre-Judgment Interest

Individual:     $5,600,000.00 Shared:    

Related Documents:

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.