Diebold Reserves $18M for Possible FCPA Settlement

Law360, New York (January 24, 2013, 9:08 PM EST) -- Diebold Inc. revealed Thursday it had set aside $18 million in the fourth quarter in anticipation of settling an ongoing federal investigation into possible violations of the Foreign Corrupt Practices Act by a Russian and Asian subsidiaries.

The ATM and voting machine manufacturer said it has been working with the U.S. Department of Justice and the Securities and Exchange Commission for months to resolve the previously disclosed probe, though chalking up the $18 million pre-tax expense did not mean a deal was in place.

“While we have not yet reached a settlement with the DOJ and SEC in this matter, based...

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