KBR, Halliburton Drop $579M To Settle Bribery Claims

Law360 (February 11, 2009, 12:00 AM EST) -- Halliburton Co. and former subsidiary KBR Inc. have agreed to pay $579 million to settle criminal and civil charges that they bribed Nigerian officials in order to obtain engineering, procurement and construction contracts worth about $6 billion.

In the criminal case, KBR pled guilty Wednesday before Judge Keith P. Ellison of the U.S. District Court for the Southern District of Texas. As part of its plea agreement, the company will pay a $402 million fine.

KBR also agreed Wednesday to pay $177 million in disgorgement as...
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