PRLog - May 16, 2011 - SAN DIEGO -- After Rockwell Automation announced that it will pay $2.7million in connection with Foreign Bribery allegations an investigation for current long term investors in Rockwell Automation (NYSE:ROK) concerning whether certain officer and directors can be held liable was announced.
If you are a current long term investor in Rockwell Automation (NYSE:ROK), and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Rockwell Automation (Public, NYSE:ROK) concerns whether certain officer and directors at Rockwell Automation can be held liable in connection with the recent agreement to settle Foreign Bribery charges with the U.S. Securities and Exchange Commission (“SEC”) over its former subsidiary's role in a China bribe case over possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), which prohibits companies from making improper payments to foreign officials for the purpose of obtaining or keeping business. San Diego-based Maxwell Technologies, Inc. announced on January 31, 2011 that it had reached settlements with the U.S. Securities and Exchange Commission and the U.S. Department of Justice (DOJ) with respect to charges asserted by the SEC and DOJ relating to the anti-bribery, books and records, internal controls, and disclosure provisions of the Foreign Corrupt Practices Act and other securities law violations.
Rockwell Automation previously disclosed that as a result of an internal review, Rockwell Automation determined in 2006 that actions by a small number of employees at its former Power Systems subsidiary in China may have violated the FCPA or other applicable laws. Rockwell Automation said it voluntarily disclosed these actions to the DOJ and the SEC beginning in September 2006.
Rockwell Automation, Inc without admitting or denying the SEC’s allegations, consented to the entry of a cease-and-desist order prohibiting Rockwell from further violations of the FCPA’s books and records and internal controls provisions, and agreed to pay disgorgement of $1,771,000, prejudgment interest of $590,091 and a civil penalty of $400,000.
Rockwell Automation’s 12months Total Revenue increased from $4.332billion reported on Sept. 30, 2009 to $4.857billion reported on $4.857billion reported on Sept. 30, 2010. Its Net Income more than doubled over the same time frame, from $220.70million to $464.20million.
Shares of Rockwell Automation (NYSE:ROK) rose from $18.40 per share in March 09 to as high as $97 per share in April 2011.
Those who are current long term investors in Rockwell Automation (Public, NYSE:ROK), and/or those who have any information relating the investigation, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.