However, the SEC staff has rejected Alcoa’s most recent offer of $60 million and no charge has been recorded. Alcoa has also exchanged settlement offers with the SEC. Based on negotiations to date, Alcoa expects any such settlement will be paid over several years. There is currently the potential of an additional possible charge of up to approximately $200 million to settle the DOJ matter. During the second quarter of 2013, Alcoa proposed to settle the DOJ matter by offering a cash payment of $103 million and has recorded a charge of $103 million ($62 million after non-controlling interest). In the past year Alcoa has been seeking settlements of both investigations. We’re at university together sandoz flucloxacillin tablets As previously disclosed, over five years ago, the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) commenced investigations of alleged corrupt payments in connection with contracts for the sale of alumina to Alba.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |