Civil Enforcement Information - Teledyne Technologies, Inc.

Date issued: Feb. 07 2012

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TURBOFAC Commentary (362 words)

Notes:

1) Teledyne provided further details surrounding the facts underlying this violation in a letter to the SEC dated January 3, 2013:

"The transactions underlying the press release to which you refer involve re-exports of certain Acoustic Doppler Current Profilers to Sudan made more than five years ago, in 2007, by a German distributor of Teledyne RD Instruments, Inc., a Teledyne subsidiary. In 2009, when the Company discovered the transactions after a routine internal review, the Company voluntarily self-reported the two shipments to the appropriate agencies, namely the Office of Foreign Assets Control of the U.S. Department of Treasury ("OFAC") and the Office of Export Enforcement of the Bureau of Industry and Security of the U.S. Department of Commerce ("OEE"). After investigation, OEE issued a warning letter in 2010 and, then in or about November 2011, OFAC reviewed the matter and, after recognizing...