WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Monday that it had settled charges with Becton Dickinson and Co. (BD) over allegations it misled investors about risks associated with its Alaris infusion pump.
The SEC said Becton Dickinson agreed to pay a $175 million civil penalty to settle the charges, which also allege that the company overstated its income by failing to disclose the costs of software repairs associated with the pump.BD did not admit to or deny the SEC’s charges, but said in a statement that a settlement is the “right course of action to fully resolve this matter and move forward.”
BD said the company would not need to issue financial restatements as a result of the settlement.
(Reporting by Caitlin Webber; editing by Rami Ayyub)
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