Amphenol settles False Claims Act investigation for $18M, no earnings impact

AMPHENOL CORP /DE/

Agreed to pay $18M to U.S. government to settle False Claims Act investigation over military connector stop-shipment orders.
Company did not admit liability; settlement releases Amphenol from further liability for the investigated issues.
Settlement amount fully reserved prior to 2023; Q3 2023 payment will not affect earnings.
Investigation involved allegations through 2017 related to stop-shipment orders received March 2016, lifted by Jan 2017.

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