Company Reaches Favorable Resolution Regarding Previously-Disclosed Investigation of Formerly-Held Subsidiary Yucatan Foods
20 Novembre 2023 - 10:05PM
Lifecore Biomedical, Inc. (NASDAQ: LFCR) (the “Company”) announced
today that the U.S. Department of Justice (the “DOJ”) has declined
to prosecute the Company for violations of the Foreign Corrupt
Practices Act (the “FCPA”) involving the Company’s formerly-held
subsidiary, Yucatan Foods L.P. (“Yucatan”), which the Company had
previously disclosed in its public filings. The declination is
reflected in a November 16, 2023 letter (“Declination Letter”)
executed by the DOJ and the Company.
Pursuant to the Declination Letter, in
connection with the DOJ’s declination to prosecute, Lifecore has
agreed to pay disgorgement in the amount of $406,505, and to
continue to fully cooperate with any ongoing government
investigations and any prosecutions that might result in the
future.
About Lifecore Biomedical
Lifecore Biomedical, Inc. is a fully integrated contract
development and manufacturing organization (CDMO) that offers
highly differentiated capabilities in the development, fill and
finish of complex sterile injectable pharmaceutical products in
syringes and vials. As a leading manufacturer of premium,
injectable grade Hyaluronic Acid, Lifecore brings more than 40
years of expertise as a partner for global and emerging
biopharmaceutical and biotechnology companies across multiple
therapeutic categories to bring their innovations to market. For
more information about the Company, visit Lifecore’s website at
www.lifecore.com.
Important Cautions Regarding
Forward-Looking StatementsThis press release contains
forward-looking statements regarding future events and our future
results that are subject to the safe harbor created under the
Private Securities Litigation Reform Act of 1995 and other safe
harbors under the Securities Act of 1933 and the Securities
Exchange Act of 1934. Words such as “anticipate”, “estimate”,
“expect”, “project”, “plan”, “intend”, “believe”, “may”, “might”,
“will”, “should”, “can have”, “likely” and similar expressions are
used to identify forward-looking statements. All forward-looking
statements involve certain risks and uncertainties that could cause
actual results to differ materially, including such factors among
others, as the Company’s ability to respond in a timely and
satisfactory matter to the inquiries by Nasdaq, the Company’s
ability to regain compliance with Listing Rule, the Company’s
ability to become current with its reports with the Securities and
Exchange Commission (the “SEC”), and the risk that the completion
and filing of the Filings will take longer than expected. For
additional information about factors that could cause actual
results to differ materially from those described in the
forward-looking statements, please refer to our filings with the
Securities and Exchange Commission, including the risk factors
contained in our most recent Quarterly Report on Form 10-Q and
Annual Report on Form 10-K/A. Forward-looking statements represent
management’s current expectations and are inherently uncertain.
Except as required by law, we do not undertake any obligation to
update forward-looking statements made by us to reflect subsequent
events or circumstances.
Lifecore Biomedical, Inc. Contact
Information:Jeff Sonnek(646)
277-1263jeff.sonnek@icrinc.com
Lifecore Biomedical (NASDAQ:LFCR)
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