Securitas admits engaging in bribery | Aptuit charged for animal cruelty | Freddy’s faces child labor law violations

In today’s Portfolio Intelligence Daily, where we highlight non-financial risks lurking under the radar with private companies and equities worldwide:?

• Securitas admits engaging in bribery
• Aptuit charged for animal cruelty in Italy
• Freddy’s Franchisee found violating child labor laws

Our analyst team curates these summaries from Auquan’s Intelligence Engine, which uses generative AI and retrieval augmented generation (RAG) to uncover material non-financial insights at scale to support deal sourcing, due diligence, risk monitoring, and compliance.?

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Securitas admits engaging in bribery

Securitas, a global security services firm, acknowledged engaging in bribery to prevent the loss of government contracts.

• An investigation was initiated after anonymous complaints to AFIP in San Isidro, Buenos Aires, leading to intervention by both the entity and the Federal Court.?
• This inquiry, prompted by internal complaints in February 2020, revealed potential crimes involving public officials from 2016 to 2018.
• Securitas admitted to paying substantial bribes to representatives of public organizations, including Enersa, Aysa, Renaper, Senasa, and Anmac, to secure contracts and expedite services.
• Law enforcement conducted raids, resulting in the arrest of nine suspects, former directors of Securitas Argentina SA, including Claudio and Marcelo Javier Tórtul.

Select timeline

• April 19, 2024 | Bribes in a security company cross two governments and public and private organizations (Noticias Argentinas)
• April 18, 2024 | Securitas admitted that it paid bribes to avoid losing contracts (Uno Entre Rios)
• April 18, 2024 | Securitas admitted paying millionaire bribes for contracts in public organizations (IProfesional)

Aptuit charged for animal cruelty in Italy

The Public Prosecutor's Office concluded a probe into Aptuit Evotec for mistreatment and unnecessary killing of animals in Verona, Italy.

• Investigations concluded with charges against Aptuit officials, including the veterinarian and former company president.
• Seizure of 25 animals, including dogs and monkeys, marked a significant event in pharmaceutical research.
• Animals were subjected to experiments in inadequate spaces, leading to physical and psychological damage.
• Animals currently receiving care at veterinary clinics and recovery centers.

Select timeline

• April 18, 2024 | Animal abuse, dogs and monkeys seized in Aptuit laboratories (Ilsalvagente)
• April 18, 2024 | Dogs and monkeys freed from laboratories, investigations closed (Vita)
• April 18, 2024 | Investigations concluded on Aptuit Verona for animal abuse (Ansa)

Freddy’s Franchisee found violating child labor laws

U.S. Department of Labor investigations discovered underage workers, aged 14 and 15, employed at seven Freddy’s Frozen Custard & Steakburgers franchise locations in Alabama.

• Investigations revealed underage workers exceeding legally permitted hours on school days and surpassing designated time limits, endangering their education, health, and overall well-being.
• A 15-year-old was illegally tasked with operating a manual deep fryer, a hazardous duty prohibited by law for workers under 18 years old.
• Employer Mark Houghton faced penalties totaling $119,029 for child labor violations.
• These measures aimed to address infractions across affected Freddy’s Frozen Custard & Steakburgers locations in Alabama.

Select timeline

• April 19, 2024 | Freddy’s franchisee must pay $119K for allowing teens to work longer, later than law allowed (HRdrive)
• April 18, 2024 | Freddy’s Frozen Custard & Steakburgers franchisee must pay $119K for child labor violations (Yahoo)
• April 15, 2024 | US DEPARTMENT OF LABOR FINDS 149 CHILDREN WORKING LATER, LONGER THAN LEGALLY ALLOWED AT 7 FREDDY’S FROZEN CUSTARD & STEAKBURGERS LOCATIONS (DOL)

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