ABB has agreed to pay more than $315M to resolve an investigation into violations of the Foreign Corrupt Practices Act stemming from the bribery of a high-ranking official at South Africa’s state-owned energy company, the Department of Justice announced on Friday. The Department of Justice’s resolution is coordinated with prosecutorial authorities in South Africa and Switzerland, as well as the U.S. Securities and Exchange Commission. See the top stocks recommended by analysts >>
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Read More on ABB:
- ABB downgraded to Underperform from Neutral at Exane BNP Paribas
- ABB (NYSE:ABB) Faces Fine for the Third Time
- ABB near $325M settlement to resolve bribery allegations, WSJ reports
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