Image Sensing Systems Announces Completion Of DOJ Probe

(RTTNews) - Image Sensing Systems, Inc. (ISNS) said Monday that the United States Department of Justice has closed its inquiry into the company in connection with the previously disclosed investigation of potential violations of the Foreign Corrupt Practices Act citing the company's voluntary disclosure, thorough investigation, cooperation and voluntary enhancements to its compliance program. The Securities and Exchange Commission had earlier notified the company that it had closed its investigation under the FCPA without recommending enforcement action.

Image Sensing Systems had learned in early 2013 that Polish authorities were conducting an investigation into alleged violations of Polish law by two employees of Image Sensing Systems Europe Limited SP.Z.O.O., its Polish subsidiary, who had been charged with criminal violations of certain laws related to a project in Poland.

A special subcommittee of the audit committee of the company's board of directors immediately engaged outside counsel to conduct an internal investigation. Image Sensing Systems voluntarily disclosed the matter to the DOJ and the SEC, and it has cooperated fully with those agencies in connection with their review.