Bio-Rad Discloses Investigation

Bio-Rad did not discuss additional details of the investigation in its quarterly conference call. In 2009, the company stated that its foreign subsidiaries generated 68% of revenues. (For Bio-Rad’s quarterly results, see page 12.)

Hercules, CA 5/4/10—Bio-Rad Laboratories has announced that as a result of an internal review it has identified conduct in certain overseas operations that may have violated the US Foreign Corrupt Practices Act’s (FCPA) antibribery provisions, books records and internal controls of the FCPA, and the company’s internal policies. Bio-Rad voluntarily disclosed these matters to the US Department of Justice and the SEC in May. The Audit Committee of the company’s Board of Directors has assumed responsibility for reviewing the matter and has hired experienced counsel to conduct an investigation and provide legal advice.

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