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Civil case

Securities and Exchange Commission v. Siemens AG

Authority: US Securities and Exchange Commission
Case number: Not published in the release read
Filed or opened: 15 December 2008
Organization: Siemens AG
Current stage: Settled by consent judgment without admission or denial. Concluded.
Outcome: Settlement without admitting or denying the allegations^S2.

Decisions and steps

15 December 2008Siemens consents to a court order for US$350 million in disgorgement^S2

Claims this case bears on

Partly supported85
US authorities said in December 2008 that Siemens paid about US$1.4 billion in bribes to government officials around the world.
Regulator statement, 15 December 20085 records citedBribery
Supported94
The US Justice Department said in December 2008 that Siemens would pay US$800 million to US authorities and about EUR 395 million in Munich.
Regulator statement, 15 December 20083 records citedBribery

Sources

S2Tier A SEC Charges Siemens AG for Engaging in Worldwide BriberyUS Securities and Exchange Commission. Regulator press release. 15 December 2008.States the SEC allegations and the settlement without admission or denial. Its figures are allegations, not findings.