maxwell technologies to pay $14.35m in settlement - power storage devices

SAN DIEGO (AP)-
Maxwell technology
$14 will be paid.
35 million address the allegations made by the Securities and Exchange Commission and the Ministry of Justice that companies violate the Foreign Corrupt Practices Act and other securities laws.
The Chinese government has accused the San Diego company, which makes power storage equipment, of bribing Chinese government officials to make sure its products are sold to the country --
Electrical manufacturers owned
Public utilities infrastructure in several provinces in China.
The Justice Department said in a statement that Maxwell paid more than $2 in the Swiss subsidiary, Maxwell.
At least between July 2002 and May 2009, provide 5 million to Chinese agents to sell Maxwell's products in China
The company misdescribes it as money for sale
Commission fee
The Justice Department said the agent, in turn, used Maxwell's money to bribe officials in the state --
All entities that obtain a sales contract.
Maxwell Technology said it would pay $6.
35 million return of profits and pre-judgment interest to resolve the civil charges filed by the SEC and a fine of $8 million to resolve the charges filed by the Justice Department.
Trend News Google cloud service disruption missing connadik state mom Virginia Beach shooting protesters interrupted Harris as part of a settlement with the Justice Department, Maxwell technology entered a three-
Deferred prosecution agreement, which requires the company to implement internal controls to identify and prevent future violations of the Foreign Corrupt Practices Act.
If the company continues to comply with the agreement for three years, the Department of Justice will dismiss all charges against the company without prejudice.
The company said it had accrued the full amount for settlement payments as of now. 30, 2010.
Maxwell's shares rose 25 cents to close at $18.