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Nortek FCPA investigation costs reach $2.3 million

Jaclyn Jaeger | March 4, 2016

Nortek, a maker of home security and thermostat systems, said this week in a securities filing with the Securities and Exchange Commission that it has incurred $2.3 million in legal and other professional services costs relating to potential improper payments made by its Chinese manufacturing unit.

For the year ended Dec. 31, 2014, this amount includes $800,000 in legal and other professional services incurred related to the FCPA investigation, Nortek said in the securities filing.

As Compliance Week previously reported, Nortek first disclosed in January 2015 that it had discovered “certain questionable hospitality, gift and payment...

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