GlaxoSmithKline to pay $20 million to settle U.S. foreign bribery case

GlaxoSmithKline to pay $20 million to settle U.S. foreign bribery case
 

GlaxoSmithKline Plc (GSK.L) will pay $20 million to settle civil charges that it masked bribes to foreign officials in China by disguising them as legitimate travel, entertainment and marketing expenses, U.S. regulators said on Friday.
The pharmaceutical company agreed to settle the case with the Securities and Exchange Commission without admitting or denying any wrongdoing.
In a statement, the company said it had cooperated with the SEC and it had received credit for taking steps to improve its operations, such as changing how sales representatives are paid and stopping the practice of... read more

 
30 September 2016 in Business, Views: 61
Source: Reuters
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