Moog Inc.

In October 2024, the U.S. Securities and Exchange Commission charged Moog Inc. with violations of the Foreign Corrupt Practices Act arising from bribery by employees of its wholly owned Indian subsidiary. The SEC found that from 2020 through 2022 employees of Moog Motion Controls Private Limited bribed Indian officials to win business, used third-party agents and distributors to funnel improper payments and offered cash bribes in efforts to influence public tenders. The SEC found that Moog violated the FCPA's recordkeeping and internal accounting controls provisions. Without admitting or denying the findings, Moog agreed to pay nearly $600,000 in disgorgement and prejudgment interest plus a $1.1 million civil penalty. Source: U.S. Securities and Exchange Commission https://www.sec.gov/newsroom/press-releases/2024-170