FARO Technologies, Inc. (FARO)

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FARO, DOJ & SEC Formally Resolve FCPA Matter
Thursday June 5, 1:25 pm ET


LAKE MARY, Fla., June 5 /PRNewswire-FirstCall/ -- FARO Technologies, Inc. (Nasdaq: FARO - News) the world leader in portable computer-aided measurement hardware and software, announced that, as expected, the U.S. Department of Justice and the U.S. Securities Exchange Commission have formally approved the settlement of the Foreign Corrupt Practices Act matter with the Company.
There will be no further penalties or fines beyond what was previously disclosed, nor were any criminal charges filed against FARO.

Also, as previously disclosed, resolution of the matter includes continuing obligations for compliance with the FCPA, including a monitoring requirement for two years, which began on June 3, 2008. The total cost associated with the monitoring obligation is currently estimated to be to be in the range of $1 million to $2 million, as disclosed in the Company's most recent earnings release and conference call. However, the actual costs incurred may vary from this preliminary estimate.