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For immediate release: February 5, 2007
For additional information and local media contact: Karen Kessler at Evergreen Partners, Inc., 908-322-1100
Statement of OSI - Outsourcing Solutions, Inc., President and Chief Executive Officer Kevin Keleghan
OSI is pleased that, by deciding not to prosecute the company, the Attorney General recognizes that the conduct of some former OSI employees is not representative of OSI as a whole or of the actions of its over 5000 employees nationwide. Our cooperation and our swift action to terminate those few employees, and the strong emphasis we place on corporate compliance resulted in a mutually acceptable resolution.
When OSI was notified initially of the State's inquiry, we took immediate steps to determine whether any OSI employees had operated outside of the legal and ethical standards that OSI expects. We hired outside legal counsel to conduct a thorough internal investigation and OSI terminated employees who had failed to abide by our code of conduct.
In our continued effort to prevent any recurrence of misconduct, we have also retained an outside monitor to conduct a comprehensive review of all practices and procedures with respect to how OSI interacts with its government clients and to recommend any changes that may be necessary. Former New Jersey Attorney General John J. Farmer Jr., who is now a partner at Kirkpatrick & Lockhart Nicholson Graham LLP, has accepted this responsibility and will begin his work starting as soon as next week. Additionally, we have resolved all concerns arising from our contracts with the State by agreeing to make immediate restitution to the State and to withdraw from bidding for new government business in the State of New Jersey for the near future.
On behalf of OSI, I want to affirm that our employees take great pride in the jobs they do and care deeply about their clients. We are proud of the billions of dollars our firm collects for our public and private clients. OSI is the nation's leading provider of business process outsourcing services designed to boost client profitability through strategic receivables management.
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