News: CPU update: 1-Computershare's Georgeson unit resolves U.S. probe for $4.5 mln

(Adds further details on settlement, background on case)

Proxy solicitation firm Georgeson LLC will pay $4.5 million to resolve U.S. prosecutors' claims that its employees paid bribes to obtain confidential information about how clients of proxy advisory firm Institutional Shareholder Services voted on corporate matters.

Georgeson, a unit of unit of Computershare Ltd (CPU), entered into a deferred prosecution agreement to resolve the long-running investigation, according to documents filed on Thursday in Boston federal court.

Under the agreement, Georgeson admitted that its employees engaged in the bribe scheme. The company agreed to cooperate with prosecutors, review its internal policies and hire an independent compliance and ethics consultant.

Prosecutors also filed a criminal case against Georgeson, which will be dropped if the company abides by the agreement's terms for three years.

Computershare did not immediately respond to a request for comment.

The deal came ahead of a February trial in the case of four ex-Georgeson employees charged with participating in schemes to illegally obtain information from Institutional Shareholder Services and to bill clients for bribes used to do so.

Prosecutors said the employees sought the information to gain an illegal edge over competitors. The four employees have pleaded not guilty.