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Orthofix reports Brazil payments to DOJ, SEC

Orthofix International said in an amendment to a securities filing that it has reported allegations of improper payments involving its Brazil-based subsidiary to the Justice Department and the Securities and Exchange Commission.

Orthofix said in the filing that it is “in contact with both agencies regarding the status of the review.”

The Lewisville, Texas medical-device maker’s latest disclosure comes less than two years after it settled FCPA offense for bribes in Mexico.

In July 2012, Orthofix paid $7.4 million to the DOJ and SEC. It entered into a three-year deferred prosecution agreement (DPA) as part of the resolution.

The DPA is still in force. It requires Orthofix to have a compliance monitor and to periodically report to the DOJ about ongoing compliance efforts.

Orthofix said it hired outside counsel to help it investigate the newly discovered FCPA allegations.


Julie DiMauro is the executive editor of FCPA Blog and can be reached here.

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