Justice Department confirms $315M settlement with ABB

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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