This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GSI Group Inc. Settles With SEC

BEDFORD, Mass., May 16, 2011 /PRNewswire/ -- GSI Group Inc. ( NASDAQ: GSIG) (the " Company" or " GSI"), a global leader and supplier of laser-based solutions, precision motion controls and other technologies, and semiconductor systems, today announced the resolution of the previously disclosed investigation by the United States Securities and Exchange Commission (the "SEC") 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.

"GSI fully cooperated with the SEC in its two year investigation and has undertaken a number of corrective actions and internal control enhancements," commented John Roush, the Company's Chief Executive Officer. "We are pleased to put this matter behind us as we continue to focus our efforts on behalf of our shareholders, customers and employees."

About GSI Group Inc.

GSI Group Inc. is a global leader and supplier of laser-based solutions, precision motion controls and other technologies, and semiconductor systems.  The Company employs approximately 1,300 employees.

More information about GSI is available on the company's website at

For more information contact: GSI Group Investor Relations Telephone: (781) 266-5137 Email:


Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs