DOJ To Receive $17.2M Foreign Bribery Penalty From Device Maker

Medical device maker Biomet Inc. has agreed to pay a $17.2 million criminal penalty in a foreign bribery case, the U.S. Justice Department said today.

Biomet, represented by Kirkland & Ellis and Ropes & Gray, entered a deferred prosecution agreement (PDF) with federal prosecutors. The Indiana-based company also settled with the U.S. Securities and Exchange, agreeing to pay $4.4 million in disgorgement and $1.1 million in prejudgment interest.

via DOJ To Receive $17.2M Foreign Bribery Penalty From Device Maker – The Blog of Legal Times.