Siemens AG's Update as to Current Bribery Investigations

20 November 2007 Publication

In November 2007, German conglomerate Siemens AG disclosed information concerning several bribery related investigations of the company, its subsidiaries, and certain current and former employees. According to the release, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) continue to investigate possible criminal violations of U.S. law by Siemens in connection with business practices in several different countries including China, Hungary, Indonesia, Israel, Italy, Norway, and Russia. The Company is also under investigation by the DOJ and SEC concerning possible violations of U.S. law in connection with the Iraqi Oil-For-Food Program. Siemens is cooperating with these investigations.

 

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