Smith & Wesson Holding Corp. agreed on Monday to pay $2 million to settle charges brought by the U.S. Securities and Exchange Commission claiming that the firearms manufacturer bribed foreign officials to boost sales.
Invoking the Foreign Corrupt Practices Act as well as securities laws, the commission said the company engaged in “a pervasive effort to attract new business” by making illegal payments or gifts of firearms to government officials in Pakistan, Indonesia, Turkey, Nepal and Bangladesh.
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