Lifecore Biomedical Says DOJ Has Declined To Prosecute Company For Violations Of Foreign Corrupt Practices Act Involving Formerly-Held Subsidiary, Yucatan Foods; Agrees To Pay Disgorgement Of $406,505
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Lifecore Biomedical announced that the DOJ will not prosecute the company for violations of the Foreign Corrupt Practices Act related to its formerly-held subsidiary, Yucatan Foods. The company has agreed to pay a disgorgement of $406,505.
November 20, 2023 | 9:10 pm
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Lifecore Biomedical has reached a non-prosecution agreement with the DOJ, involving a payment of $406,505, for issues related to its former subsidiary.
The decision by the DOJ not to prosecute Lifecore Biomedical removes a significant legal overhang and potential source of financial and reputational damage. The settlement amount is relatively small, suggesting a limited financial impact. This resolution is likely to be viewed positively by investors, potentially leading to a short-term uptick in the company's stock price.
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