IFCO SYSTEMS N.V. / Scheme of Arrangement 19.12.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- IFCO Systems N.V. ('IFCO') today announced that its subsidiary IFCO Systems North America, Inc. ('IFCO Systems N.A.') has reached a non-prosecution agreement with the U.S. Department of Justice. The agreement removes the prospect of any criminal charges against IFCO Systems N.A. by the United States government as a result of the immigration enforcement action launched against IFCO Systems N.A. on April 19, 2006. IFCO Systems N.A. cooperated fully with the government throughout the investigation, and has agreed to pay a financial penalty of US $ 20.6 million, payable in four non-interest bearing annual instalments, as part of this settlement and IFCO Systems N.V. has guaranteed payment of such penalty. IFCO Systems N.A. has also agreed to take a number of steps, many of which have previously been implemented, to strengthen and standardize employment and Form I-9 procedures throughout IFCO Systems N.A.s more than 150 operations across the nation. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: 'We are pleased and gratified to have reached this non-prosecution agreement with the government,' said Karl Pohler, Chief Executive Officer of IFCO SYSTEMS, N.V.. 'IFCO is committed to doing business with the highest ethical standards, and to complying with all federal and state employment laws and regulations. Todays agreement reflects that commitment.' 'Over the last 32 months, we at IFCO have significantly upgraded our compliance procedures to go well beyond what the law requires, so that today I am confident that IFCO is the most compliant company in the industry,' said Dave Russell, President of IFCO SYSTEMS NORTH AMERICA, INC.. 'I am certain that the governments willingness to enter into this non-prosecution agreement reflects a recognition of all of our efforts.' The settlement and the agreement not to prosecute apply only to IFCO Systems N.A. and do not address the previously-disclosed prosecutions of IFCO employees accused of various immigration-related offenses. Michael W. Nimtsch Chief Financial Officer IFCO SYSTEMS Zugspitzstr. 7 82049 Pullach 089.74491.121 Michael.nimtsch@ifco.de DGAP 19.12.2008 --------------------------------------------------------------------------- Language: English Issuer: IFCO SYSTEMS N.V. Evert van de Beekstraat 310 1118 CX Schiphol Centrum Niederlande Phone: +31 20 5214777 Fax: +31 20 5214888 E-mail: sabine.preiss@ifco.de Internet: www.ifco.de ISIN: NL0000268456 WKN: 157670 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: IFCO SYSTEMS reached a civil non-prosecution agreement with the U.S. Department of Justice regarding the ICE investigation
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