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4-Traders Homepage  >  Equities  >  Nyse  >  Ralph Lauren Corp    RL

RALPH LAUREN CORP (RL)
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Ralph Lauren Corp : Ralph Lauren to pay $1.6 million to resolve Argentine bribery case

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04/22/2013 | 04:54pm CEST

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

U.S. authorities agreed not to prosecute the company after allegations surfaced that it bribed Argentinian customs officials in order to clear merchandise, some of it prohibited, the U.S. Justice Department said.

The company received the lenient treatment because of its "extensive" cooperation in the inquiry and new anti-bribery training for its employees, a world-wide risk assessment it conducted and other remedial measures.

The company will pay an $882,000 penalty to the DOJ and disgorge more than $730,000 in illicit profits and interest to the Securities and Exchange Commission, the two agencies said.

Ralph Lauren did not have an anti-corruption program or provide training to employees at its subsidiary in Argentina in the five-year period over which the bribes occurred, prosecutors said.

A lawyer for the company, Thomas Hanusik, said Ralph Lauren investigated the allegations, reported them to authorities and cooperated in the government probes.

The agreement with the SEC is the first non-prosecution agreement the agency has entered in the foreign bribery context.

In recent years both agencies have stepped up efforts to enforce the Foreign Corrupt Practices Act, a 1970s-era law that bars bribes to officials of foreign governments.

(Reporting by Sarah N. Lynch and Aruna Viswanatha; Editing by Gerald E. McCormick and Dan Grebler)

By Aruna Viswanatha

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Financials ($)
Sales 2019 6 126 M
EBIT 2019 677 M
Net income 2019 426 M
Finance 2019 1 125 M
Yield 2019 1,75%
P/E ratio 2019 23,90
P/E ratio 2020 19,57
EV / Sales 2019 1,66x
EV / Sales 2020 1,64x
Capitalization 11 295 M
Chart RALPH LAUREN CORP
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Ralph Lauren Corp Technical Analysis Chart | RL | US7512121010 | 4-Traders
Technical analysis trends RALPH LAUREN CORP
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 19
Average target price 132 $
Spread / Average Target -2,4%
EPS Revisions
Managers
NameTitle
Patrice Jean Louis Louvet President, Chief Executive Officer & Director
Ralph Lauren Executive Chairman & Chief Creative Officer
Jane Hamilton Nielsen Chief Financial Officer
Janet Sherlock Chief Information Officer
Frank Anthony Bennack Independent Director
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