Siemens Suspends Employees In Price-Fixing Probe

Law360, New York (February 13, 2007, 12:00 AM EST) -- After a month filled with accusations, investigations and fines, German engineering giant Siemens AG has temporarily suspended three employees believed to have colluded to fix the price of transformers in the country.

The company revealed the news on Tuesday, the result of an internal investigation conducted by Siemens into the price-fixing allegations.

”We want any improprieties to be clarified quickly and expediently, and we are taking appropriate action,” said Udo Niehage, the president of Siemens’ power transmission and distribution group.

The case revolves around equipment made...
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