TIDMIMI
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:
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| Weber Shandwick Financial | |
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| Nick Oborne / Stephanie Badjonat | Tel: 020 7067 0700 |
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This information is provided by RNS
The company news service from the London Stock Exchange
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