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Biotech / Medical : New Brunswick Scientific Co., Inc. (NBSC)
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To: Clouseau who wrote (681)9/2/2004 1:27:21 PM
From: richardred   of 724
 
NBSC bites the bullet. Why not settle now, especially when the next quarter will have non recurring charges from a cash payment to a key employee, let go. Interesting to see what the next quarter brings minus the charges.

09/02 11:43 DJ New Brunswick Scientific Reaches Commerce Dept Settlement

WASHINGTON (Dow Jones)--New Brunswick Scientific Inc. (NBSC) said

Thursday it paid a $51,000 civil penalty, without admitting or denyingwrongdoing, to settle claims with the U.S. Commerce Department over thecompany's alleged failures to comply with export-control requirements. The provider of research equipment and scientific instrumentspreviously had reserved an amount that covers the civil penalty, according toa filing with the Securities and Exchange Commission. New Brunswick Scientific earlier disclosed it was working informallywith the Commerce Department to settle charges the company may have failed tocomply with some export-control requirements in connection with equipmentsales to Asia. According to previous SEC filings, the federal agency could haveimposed civil penalties up to $176,000 in the case, though the company hassaid it accrued an amount "significantly lower" than that based on itsassessment of a likely settlement amount. New Brunswick Scientific, based in Edison, N.J., earlier said it wasnotified in June 2003 of the Commerce Department's claims.-By Shira Ovide; Dow Jones Newswires; 202-862-1356;shira.ovide@dowjones.com
(END) Dow Jones Newswires
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