On August 8, 2016, medical device manufacturer Biomet announced in an SEC filing that it is “probable” that the company will incur additional liabilities in connection with the company’s 2012 deferred prosecution agreement (DPA) related to FCPA violations in Mexico and Brazil. The company stated that it had set aside funds for this purpose, but did not specify the amount. Biomet’s SEC filing stated that the company “expects to continue discussions with the SEC and DOJ but the terms of a potential resolution were not certain.”
Two months ago, DOJ stated in a court filing that Biomet had breached the DPA by failing to implement and maintain a compliance program. See previous FCPA Scorecard coverage of that filing here.