By  on April 22, 2013

Ralph Lauren Corp.’s mea culpa over foreign bribes will cost it about $1.6 million but likely save it far more in penalties, effort and time.

The company will pay the U.S. Department of Justice $882,000 and the Securities and Exchange Commission nearly $735,000 to settle claims that it violated the Foreign Corrupt Practices Act when a manager at its subsidiary in Argentina offered bribes to government officials to avoid inspection and Customs requirements between 2005 and 2009.

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