Defendant Name: ABB Ltd

Defendant Type: Public Company
SIC Code: 3612
CUSIP: 00037520

Initial Case Details

Legal Case Name SEC v. ABB Ltd
First Document Date 29-Sep-2010
Initial Filing Format Civil Proceeding
Case Number 10-cv-01648
Allegation Type Foreign Corrupt Practices Act
Federal District Court District of Columbia, District of Columbia

Violations Alleged

Exchange Act
Sec 13(b)(2)(A)
Sec 13(b)(2)(B)
Sec 30A


First Resolution Date 29-Sep-2010
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

LR-21673 29-Sep-2010 Litigation Release
SEC Charges ABB for Bribery Schemes in Mexico and Iraq-ABB to pay $39 Million in Disgorgement and Civil Penalties
On September 29, 2010, the SEC published a litigation release announcing that it filed a settled civil action against ABB Ltd, charging the company with violations of the Foreign Corrupt Practices Act.
comp-pr2010-175 29-Sep-2010 Complaint
On September 29, 2010, the SEC filed a complaint against ABB Ltd. for violations of the anti-bribery, books and records, and internal controls provisions of the federal securities laws. The SEC alleged that from 1999 to 2004, ABB paid bribes to government officials in Mexico through a U.S. subsidiary and paid kickbacks to Iraq. The SEC alleged that ABB violated Sections 13(b)(2)(A), 13(b)(2)(B), and 30A of the Exchange Act.
2010-175 29-Sep-2010 Press Release--Civil Action
SEC Charges ABB For Bribery Schemes in Mexico and Iraq
On September 29, 2010, the SEC announced that it charged ABB Ltd ("ABB") with violations of the Foreign Corrupt Practices Act ("FCPA") for using subsidiaries to pay bribes to Mexican officials to obtain business with government-owned power companies, and to pay kickbacks to Iraq to obtain contracts under the U.N. Oil for Food Program. According to the SEC's complaint filed in federal court in Washington, D.C., ABB's subsidiaries made at least $2.7 million in illicit payments in these schemes to obtain contracts that generated more than $100 million in revenues for ABB, a Swiss corporation that provides power and automation products and services worldwide. Without admitting or denying the SEC's allegations, the company has agreed to settle the charges. ABB consented to the entry of a final judgment that permanently enjoins the company from future violations of the federal securities laws, orders the company to pay $17,141,474 in disgorgement, $5,662,788 in prejudgment interest, and a $16,510,000 penalty. The order also requires the company to comply with certain undertakings regarding its FCPA compliance program. In related criminal proceedings, ABB has reached a settlement with the U.S. Department of Justice in which ABB will pay $19 million in criminal penalties.
court_doc2_10-cv-01648 12-Oct-2010 Court Docket Document
Final Judgment as to Defendant ABB Ltd
On October 12, 2010, Federal District Judge Paul L. Friedman entered final judgment against ABB Ltd pursuant to the consent of ABB Ltd.

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SEC v. John Samson, John G. A. Munro, Ian N. Campbell, John H. Whelan