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Ralph Lauren to Pay $1.6M to Resolve Foreign Bribery Case

Ralph Lauren

Fashion designer Ralph Lauren (REUTERS)

Clothing retailer Ralph Lauren Corp will pay more than $1.6 million to settle a criminal and civil investigation into allegations that one of its subsidiaries bribed government officials in Argentina.

The U.S. Justice Department said Ralph Lauren will pay an $882,000 penalty in exchange for a non-prosecution agreement, while the Securities and Exchange Commission said the company
will disgorge more than $700,000 in illicit profits and interest.