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You are here: Home / Archives for D.O.J.

D.O.J.

Department of Justice Says It Will Not Charge Nortek in Bribery Scandal

June 9, 2016 by Ted Leave a Comment

SEC Forces Nortek to Forfeit Profits Resulting from the Bribe

Nortek LogoThe Department of Justice (D.O.J.) has notified Nortek, Inc. that it has closed its investigation into a corporate bribery scandal involving the company’s operations in China and will take no further actions, according to a report by Reuters. Nortek, parent company of Core Brands – a holding company of several custom integration brands – had revealed the existence an internal investigation into the matter by the company to investors several quarters ago. At the same time, Nortek reported the matter to the authorities, noting that they would fully cooperate with any government investigation.

Nortek “will not be charged because the U.S. [company] had turned themselves in,” Reuters noted. Nortek stock was up 5.19% in late afternoon trading on the news.

See more on why the D.O.J. decided to not charge Nortek… [Read more…] about Department of Justice Says It Will Not Charge Nortek in Bribery Scandal

Filed Under: Law, Management, Manufacturers, News Tagged With: Core Brands, D.O.J., Department of Justice, Nortek, Nortek Inc., SEC, Securities and Exchange Commission

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A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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