SEC Says Deutsche Telekom Violated Corrupt Practices Act
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The U.S. Securities and Exchange Commission accused Deutsche Telekom AG, Europe’s biggest phone company, of violating the Foreign Corrupt Practices Act.
The SEC sued the Bonn-based company and its Budapest-based Magyar Telekom unit in federal court in Manhattan today. The court filing doesn’t indicate whether a settlement has been reached. John Nester, an SEC spokesman, declined to comment beyond the filing. Elpida Trizi, a Deutsche Telekom spokeswoman, declined to immediately comment on the lawsuit.