Albemarle Agrees To Settle Charges Of FCPA Violations - Quick Facts

(RTTNews) - The Securities and Exchange Commission announced Albemarle Corporation has agreed to pay more than $103.6 million to settle the SEC's charges that it violated the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act. The company has agreed to cease and desist from committing or causing any future violations of these provisions and to pay disgorgement of more than $81.8 million plus prejudgment interest of more than $21.7 million, totaling more than $103.6 million.

Separately, the U.S. Department of Justice announced it has entered into a non-prosecution agreement in which Albemarle agreed to pay a $99 million criminal fine and to a forfeiture of approximately $98 million, of which $81.8 million will be satisfied by the company's payment of disgorgement pursuant to the SEC Order.