SAN DIEGO & HERCULES, Calif., Nov.
4, 2014 /PRNewswire/ -- Shareholder rights law firm Robbins
Arroyo LLP is investigating whether certain officers and directors
of Bio-Rad Laboratories, Inc. (NYSE: BIO) breached their fiduciary
duties to shareholders. Bio-Rad manufactures and supplies
products and systems used to separate complex chemical and
biological materials, as well as to identify, analyze, and purify
their components for life science research, healthcare, analytical
chemistry, and other markets.
View this press release on the law firm's Shareholder Rights
Blog:
www.robbinsarroyo.com/shareholders-rights-blog/bio-rad-laboratories-inc
U.S. Securities and Exchange Commission Charges Bio-Rad
with Violating the Foreign Corrupt Practices Act
On November 3, 2014, the U.S.
Securities and Exchange Commission and the U.S. Department of
Justice charged Bio-Rad with making unlawful payments to government
officials in violation of the Foreign Corrupt Practices Act.
Specifically, Bio-Rad is charged with making unlawful payments to
officials in Thailand and
Vietnam between 2005 and 2010. The
company was also charged with securing profitable public contracts
in Russia by unlawfully paying
commissions to intermediaries who passed along a portion of their
commissions to Russian government officials. According to the
agencies, Bio-Rad paid approximately $7.5
million in bribes to officials in the three countries from
2005 to 2010 to obtain or retain business in those countries,
enabling it to secure $35 million in
illicit profits. In conjunction with the charges, Bio-Rad has
agreed to pay over $55 million to
resolve the allegations.
In light of this news, Robbins Arroyo LLP is investigating
whether Bio-Rad's board of directors breached its fiduciary duties
to shareholders by failing to ensure that the company maintained
compliance with the law.
Bio-Rad Shareholders Have Legal Options
Concerned shareholders who would like more information about
their rights and potential remedies can contact attorney
Darnell R. Donahue at (800)
350-6003, DDonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than
$1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, Ca 92101
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP