LOS ANGELES – Adhesive label maker Avery Dennison Corp. on Tuesday settled a case that accused it of promising or making improper payments to foreign officials.
The Securities and Exchange Commission said in a release that the Pasadena-based company will return more than $300,000 with interest as well as paying a civil fine of $200,000.
In one case, SEC officials said a Avery subsidiary paid for gifts, sightseeing trips and kickbacks to Chinese government officials. In another, a company acquired by Avery in 2007 was accused of continuing to make illegal payments to customs or other officials in several foreign countries.
Avery agreed to the settlements without admitting or denying the allegations. Company spokesman David Frail said Avery found out about the "questionable behavior" and reported it to the SEC and the U.S. Department of Justice.
"We are committed to serving customers honestly and ethically worldwide," Frail said.