HP Faces Foreign Bribery Probe Over $45M Russian Contract

Law360, Los Angeles (March 12, 2013, 5:07 PM EDT) -- Hewlett-Packard Co. on Monday disclosed an investigation over bribes it allegedly paid to win a €35 million ($45 million) information technology contract with the Russian government, saying the U.S. Department of Justice and the U.S. Securities and Exchange Commission were looking into possible Foreign Corrupt Practices Act violations.

The announcement, included in HP’s quarterly report to the SEC, comes six months after the German Public Prosecutors Office charged one current and several former HP employees in connection with a contract by a former HP subsidiary to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.