Regulatory case
In the Matter of ABB Ltd
- Authority
- US Securities and Exchange Commission
- Case number
- Not published
- Filed or opened
- 2 December 2022
- Organization
- ABB Ltd
- Current stage
- Settled cease-and-desist order.
- Outcome
- Settled.
Decisions and steps
- ABB consents to the order, US$75 million penalty and more than US$72 million disgorgementS2
Claims this case bears on
- Supported95The US Justice Department and the SEC said in December 2022 that ABB, through subsidiaries, paid bribes to a South African government official at Eskom in connection with the Kusile power station.Regulator statement, 2 December 20223 records citedBribery
- Partly supported87OCCRP reported in December 2022 that ABB agreed to pay US$315 million to settle a multinational bribery investigation.Press report, 7 December 20224 records citedBribery
Sources
- S2Tier A Press Release 2022-214US Securities and Exchange Commission. Regulator press release. Dated 3 December 2022 on the page.Supports the Kusile contract value, the US$37 million in payments and the SEC amounts. It does not cover the 2025 dismissal.