Daimler Pleads Guilty

06 April 2010 Publication

On April 1, 2010, at a hearing before U.S. District Court Judge Richard J. Leon in the District of Columbia, Daimler AG and one of its subsidiaries entered into deferred prosecutions and agreed to the filing of criminal informations charging the companies with one count of conspiracy to violate the books and records provisions of the FCPA and one count of violating those provisions. Two other subsidiaries pleaded guilty to criminal informations, charging the companies with one count of conspiracy to violate the anti-bribery provisions of the FCPA and one count of violating those provisions. For more detail on these charges, please see our earlier post. In resolving the charges, Daimler AG and its subsidiaries agreed to pay $93.6 million in criminal fines and penalties for violations and $91.4 million in disgorgement of profits to resolve a related civil complaint filed by the SEC.