Maxwell Technologies Clarifies Status of Settlement Negotiations With Department of Justice

Maxwell Technologies provided information regarding the status of its negotiations with the Department of Justice (DOJ) to reach a settlement of alleged violations of the U.S. Foreign Corrupt Practices Act (FCPA). After further discussions with the DOJ, the company is clarifying its earlier disclosure as follows:

"The Department of Justice has not indicated a specific settlement amount or other terms that would be acceptable to settle the ongoing investigation of alleged FCPA violations. As with all potential settlements with the DOJ, there are numerous other aspects of the settlement, in addition to the monetary penalties, that also need to be resolved."