Alere Coughs Up $13 Million to Settle Accounting Fraud Charges With the SEC
Published: Sep 29, 2017
WALTHAM, Mass., Sept. 28, 2017 /PRNewswire/ -- Alere Inc. (NYSE: ALR) (the "Company"), a global leader in rapid diagnostic tests, today announced that it has reached a settlement with the United States Securities and Exchange Commission (the "SEC") in connection with the SEC's previously disclosed investigation. The SEC investigation primarily involved certain accounting and other matters occurring at foreign subsidiaries previously acquired by the Company.
Alere issued the following statement:
We have cooperated with the SEC and we are pleased to fully resolve this matter.
Under the terms of the settlement, Alere agreed to pay approximately $13 million to the SEC and consented to the entry by the SEC of an administrative cease-and-desist order, issued today by the SEC, without admitting or denying the findings in the order.
Alere believes that when diagnosing and monitoring health conditions, Knowing now matters. Alere delivers reliable and actionable information by providing rapid diagnostic tests, enhancing clinical and economic healthcare outcomes globally. Headquartered in Waltham, Mass., Alere focuses on rapid diagnostics for cardiometabolic disease, infectious disease and toxicology.
For more information on Alere, please visit www.alere.com.
SOURCE Alere Inc.