Sharp office equipment: $2.3M, 2.4% return
Sharp has agreed to pay $2 million to resolve a federal lawsuit filed by the Justice Department in which it alleged it was a target of federal surveillance because of its business in the U.S. and in other countries.
The deal, which was finalized Wednesday, is a 1.9% return on Sharp’s $2 billion purchase of Epson in 2009.
Sharp will be reimbursed $1.9 million for “inconsequential expenses” incurred in connection with the investigation, according to the Justice department.
The Justice Department filed a criminal complaint against Sharp in June, accusing the company of failing to stop a spyware program used by the National Security Agency to gather information on its customers.
The spyware was used to gather “sensitive customer data, including names, telephone numbers, e-mail addresses, addresses, credit card numbers and other personal information, in violation of U.A.E. laws, according a statement from the Justice, which is a separate federal entity.
The complaint alleges that Sharp did not adequately notify customers about the spyware, and it did not have the resources to fight it.
In March, the company agreed to settle the complaint, paying $2,000 to settle claims that it improperly sold to the NSA data collected from the Epson devices.
Sharp said at the time it was cooperating with the Justice investigation.
Sharp said it would “make every effort to resolve this matter amicably.”