Smith & Wesson Pays $2 Million to Settle Bribery Probe With SEC
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Smith & Wesson Holding Corp. agreed to pay about $2 million to settle U.S. regulatory claims that it bribed officials in Pakistan, Turkey and other countries to win firearms contracts.
Smith & Wesson employees made improper payments from 2007 to 2010 to secure business with militaries and police departments, the Securities and Exchange Commission said in an administrative order filed today. The gunmaker settled the claims without admitting or denying the allegations.