FARO Technologies is Latest Company to Report Possible FCPA Violations
Yet another company has disclosed possible violations of the Foreign Corrupt Practices Act (FCPA). Today, FARO Technologies, Inc. (Nasdaq: FARO), a designer and developer of software and portable computerized measurement devices, announced that it recently learned of suspicious payments in connection with foreign sales activities in China. As a result, FARO is conducting an internal investigation to determine the extent of any improper payments and possible deficiencies in its books and records and internal controls with respect to operations in China and the Asia/Pacific region, in possible violation of the anti-bribery, books and records and internal controls provisions of the FCPA. FARO has voluntarily notified the Securities and Exchange Commission and the Department of Justice of the internal investigation and is cooperating with the agencies. FARO will delay the filing of its 2005 annual report (Form 10-K) with the SEC as a result of this investigation.
|posted by Douglas N. Jacobson| Permalink 
