Diebold Agrees To Settle With SEC For $25M

Law360, New York (May 4, 2009, 12:00 AM EDT) -- Automated teller and voting machine maker Diebold Inc. has agreed to cough up $25 million to resolve allegations stemming from a probe the U.S. Securities and Exchange Commission launched in 2006 into the company's revenue recognition practices.

North Canton, Ohio-based Diebold said on Monday that it had reached an agreement in principle with the SEC under which the company would pay a $25 million penalty and agree to an injunction barring it from committing future violations of certain provisions of federal securities laws.

Diebold didn't admit...
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