August 6, 2021

Stericyle in discussions with US enforcement authorities to resolve FCPA investigation

On August 6, 2021, Stericycle Inc., an Illinois-based company specializing in the disposal of medical waste, reported in a securities filing that the company is engaged in preliminary discussions with the US Department of Justice and the Securities and Exchange Commission to resolve investigations into potential corrupt conduct in Latin America and elsewhere.  Stericycle disclosed the investigations in previous filings, which stated that the SEC had issued a subpoena in June 2017 requesting information about the company’s compliance with the Foreign Corrupt Practices Act and other anti-corruption laws with respect to the company’s operations in Latin America, and that the DOJ had notified Stericycle that it was conducting a parallel investigation focused on the same conduct.  Stericycle also previously disclosed that it had conducted an internal investigation that concluded that there was “evidence of improper conduct.”  In addition, as part of its investigation, in July 2019, the SEC issued a subpoena requesting documents concerning certain of the company’s pricing practices, which Stericycle stated were also the subject of separate class action lawsuits that alleged the company had “imposed unauthorized or excessive price increases.”

The company reported that it continues to cooperate with the DOJ and the SEC, and is in discussion with both to resolve their investigations. 

Form 10-Q