SAN FRANCISCO (Thomson Financial) - Faro Technologies Inc. said Thursday the
Department of Justice and Securities Exchange Commission have formally approved
the settlement of the Foreign Corrupt Practices Act matter with the company.
As previously disclosed, the settlement includes a monitoring requirement of
two years, with a total related cost of $1 million to $2 million, the Lake Mary,
Fla.-based company said. There will be no further penalties or fines, nor were
any criminal charges filed against the company.
Faro is a maker of portable, software driven, 3-D measurement systems used
in a range of manufacturing, industrial, building construction, and forensic
applications.
The company's stock was up $1.04, or 3.8%, at $28.25.
Katherine Hunt
kh/vj
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