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Press Conference: Siemens AG reaches a resolution with German and U.S. authorities

Munich, 15 December 2008

Press Releases

Siemens AG reaches a resolution with German and U.S. authorities

Siemens AG announced today that legal proceedings against it arising from allegations of bribing public officials were concluded on the same day in Munich, Germany, and in Washington, DC. Siemens will pay total fines and penalties of about €1 billion.
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Dr. Theo Waigel appointed as compliance monitor

Siemens AG announced today that it had engaged Dr. Theo Waigel, former German Minister of Finance, as its "compliance monitor." The monitoring of a company's compliance processes is typically part of the settlement of criminal charges in the United States. It was a requirement by the United States Department of Justice (DOJ) and the United States Securities and Exchange Commission (SEC) in connection with the settlements reached today. 
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Siemens Press Department

Siemens AG 

+49 (89) 636-36366