Bruker Comments on SEC Investigation
In 2011, Bruker recorded $4.3 million in costs related to the internal investigation, which was conducted by the Board’s Audit Committee, outside counsel and an independent forensic consulting firm. The investigation began following the receipt of “anonymous communications.” Bruker stated that it cannot assess the timing or outcome of the ongoing investigations or their effect on the company.
Washington, DC 2/29/12—Bruker reported in its 10K SEC filing that it has completed its internal investigation of improper payments by Bruker Optics employees to Chinese government-owned enterprises (see IBO 8/15/11). The company found evidence that improper payments were made that did not comply with its policies and standards of conduct. As a result, Bruker terminated certain employees and its relationship with certain third-party agents. The firm enhanced its Foreign Corrupt Practices Act compliance program and strengthened financial controls and oversight at its Chinese and Hong Kong subsidiaries. Bruker has also initiated a review of its other subsidiaries’ Chinese operations. Bruker is cooperating with US federal agencies and the Hong Kong government in their inquiries into the matter.
