Siemens To Sue Execs Over Bribery Scandal: Report

Law360, New York (July 22, 2008, 12:00 AM EDT) -- Coming off an expensive and debilitating corruption scandal that wracked the German engineering and information technology firm, Siemens AG is reportedly now planning to sue 10 of its former board members, including its ex-chairman and CEO, for damages.

Siemens' supervisory board will launch legal proceedings against the 10 former executives next week, German daily Suddeutsche Zeitung said, citing no sources. The 10 belonged to the company's board between 2003 and 2006.

Siemens would demand several million euros from each member for damages and interest related to...
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