Siemens Settlement: Relief, But Is It Over?
It's not often that a $1.3 billion legal settlement is viewed as good news for the company that has to pay it, but that is how stock markets greeted the announcement that German engineering and electronics giant Siemens (SI) has resolved corruption charges brought by U.S. and German authorities. As major indexes in Europe and the U.S. fell on Dec. 15, Siemens shares rose 1% in New York trading amid investor relief that the company, accused of massive bribery to win contracts around the world, now can begin putting the case behind it.
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