GSI Group Inc. Settles With SEC

GSI Group Inc. GSIG today announced the resolution of the previously disclosed investigation by the United States Securities and Exchange Commission into the historical accounting practices of the Company's Semiconductor Systems segment. The Company has agreed to settle with the SEC, without admitting or denying the findings of the SEC, by consenting to the entry of an administrative order that requires the Company to cease and desist from committing or causing any violations and any future violations of the reporting, books and records, and internal controls provisions of the Securities Exchange Act of 1934. The SEC did not charge GSI with fraud nor did the SEC require GSI to pay a civil penalty or other money damages as part of the settlement. The settlement completely resolves the SEC investigation as it relates to the Company.