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MTS Systems enters settlement with DOJ for $7.75M

On August 30, MTS Systems entered into a Settlement Agreement with the United States of America, acting through the United States Department of Justice, settling for $7.75M, the DOJ’s potential claims against the company for its past disclosures on its government certifications and representations in connection with federal government contracting. The Agreement contains mutual releases relating to the above-described claims. The terms of the Settlement Agreement are consistent with the company’s disclosure of an agreement in principle with the U.S. Attorney’s Office for the District of Minnesota on a Current Report on Form 8-K dated July 31 and in a press release issued on the same day.