2007'10.03.Wed
York International Reaches Settlement with DOJ and SEC
October 02, 2007
YORK, Pa., Oct. 2 /Xinhua-PRNewswire/ -- York
International today entered into a deferred prosecution
agreement with the U.S. Department of Justice (DOJ) and a
consent agreement with the U.S. Securities and Exchange
Commission (SEC) resolving issues related primarily to
activities involving certain overseas contracts.
The settlements include $22 million in fines, interest
and the disgorgement of past profits on the contracts. The
financial settlements are not expected to materially impact
the company as they have been fully provided for in prior
periods. The investigation did not reveal any personal
misconduct by York senior officers. The agreements with
the DOJ and SEC also provide for an independent consultant
to monitor York's compliance with all relevant laws.
For more information, please contact:
Tom Branigan
Branigan Communication
Tel: +1-414-224-0767
PR
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