Massachusetts based medical device company Analogic faces a $15 million settlement with the Securities and Exchange Commission over a foreign corruption investigation, according to a regulatory filing.
The imaging system company reported a settlement proposal to the SEC over bribery allegations involving a Danish subsidiary, but said its offer of $1.6 million was declined.
The Justice Department and SEC then separately approached the company proposing settlements that would total a combined $15 million, the company said.
“In the first quarter of fiscal 2016, the SEC and DOJ made separate settlement proposals that would include payments in the aggregate amount of approximately $15 million,” the company said in its quarterly filing.
Analogic first disclosed its bribery probe in 2011 involving its unit BK Medical ApS, reporting the issues to the Danish and U.S. governments.
The company said it ended distributor relationships and fired staffers to address the conduct.