Gibson Guitars hit with $300,000 fine by Justice

In order to settle an ongoing dispute with the Obama administration over the materials used to make its world famous musical instruments, Gibson Guitars has agreed to settle with the Justice Department by paying a fine of $300,000.

As part of the terms of the settlement, Gibson will also pay $50,000 to a federal conservation fund and agree to withdraw its claims to multiple thousands of dollars' worth of fingerboards the Obama administration seized from the company.

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