PHILADELPHIA, Sept 30, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- CDI Corp. (NYSE: CDI) today announced that the United Kingdom's Office of Fair Trading ("OFT") has issued a decision in its investigation into alleged anti-competitive behavior by CDI's U.K.-based subsidiary, AndersElite ("Anders").
As previously disclosed, the OFT has been investigating alleged violations of the U.K. Competition Act of 1998 by Anders and a number of its competitors in the U.K. construction recruitment industry during the time period of late 2004 to early 2006. CDI has been cooperating with the OFT in its investigation under the OFT's corporate leniency program.
In its decision, the OFT states that it has made a finding that Anders did violate the U.K. Competition Act of 1998 and imposes a fine of 7.6 million pounds Sterling (approximately $12.2 million) for the violations. CDI will be analyzing the specifics of the decision and will be evaluating its options, including a possible appeal.
Since becoming aware of these alleged violations, CDI has increased its focus on its Compliance Program throughout all business units to ensure that ethical business practices remain at the core of all company conduct.
Headquartered in Philadelphia, CDI Corp. (NYSE: CDI) is a leading provider of engineering and information technology outsourcing solutions and professional staffing. Its operating units include CDI Engineering Solutions, CDI IT Solutions, CDI AndersElite Limited and Management Recruiters International, Inc. Visit CDI at www.cdicorp.com.
SOURCE CDI Corp.
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