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Under the agreement announced Monday, Nashville-based Gibson is to pay a $ 300,000 penalty. The company also agreed to forfeit claims to about $ 262,000 worth of wood seized by federal agents and contribute $ 50,000 to promote conservation of protected tree species.
The company didn’t immediately respond to a request for comment.
Gibson’s decision to cooperate with federal laws banning the import of endangered wood products stands in contrast to a 2011 publicity campaign mounted after agents raided Gibson facilities in Memphis and Nashville.