MTS Systems Corp. (MTSC: Quote) announced that it has reached an agreement in principle with the U.S. Attorney's Office for the District of Minnesota or USAO, subject to the approval of the U.S. Department of Justice or DOJ, settling, for $7.75 million, the DOJ's potential claims against the Company for its past disclosures on its government certifications and representations in connection with federal government contracting.
MTS Systems stated that the settlement is not final until approved by the DOJ and until the Company and the USAO have signed the written settlement agreement.
If approved, the agreement would conclude the U.S. Department of Commerce and USAO investigation of the Company's government contracting compliance policies, general government contracting compliance record and practices in areas including export controls and government contracts, MTS Systems said.
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by RTT Staff Writer
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