SEC Takes Further Look Into Siemens

Law360, New York (April 26, 2007, 12:00 AM EDT) -- The U.S. Securities & Exchange Commission has converted its informal inquiry of Siemens AG into a formal probe which will look more deeply into an alleged bribery scheme at the German engineering giant.

On Thursday, Siemens revealed the news during the release of its second quarter earnings results, adding that it intended to expand its own internal investigation into the suspicious payments.

Siemens has been under increasing scrutiny both at home and abroad in recent months, with German prosecutors currently examining whether nearly €200 million that...
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