Daimler May Settle SEC Bribe Case: Report

Law360, New York (January 14, 2009, 12:00 AM EST) -- Daimler AG is reportedly close to reaching a multimillion-dollar settlement of a U.S. Securities and Exchange Commission investigation into allegations the automaker bribed foreign officials.

In an article on Wednesday, the German publication Manager Magazin cited anonymous sources saying that the settlement would be in the “low-triple-digit millions” of dollars.

A representative of Daimler said there was no agreement yet and that the investigation was ongoing.

The allegations first came to light in September 2004, when former Daimler financial analyst David Bazzetta sued the company, alleging...
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