IBM Pays SEC $10M To Settle FCPA Allegations

Law360, Washington (July 25, 2013, 7:28 PM ET) -- A Washington federal judge on Thursday approved a $10 million settlement between the U.S. Securities and Exchange Commission and International Business Machines Corp. over allegedly bribing Chinese and South Korean government officials for more than a decade to further its business interests.

According to the consent decree terms, IBM will pay disgorgement of $5.3 million, $2.7 million in prejudgment interest and a $2 million civil penalty for the alleged Foreign Corrupt Practices Act violations. The company will also submit annual compliance reports to the SEC and...
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