ABB Nears Deal to Resolve Third U.S. Bribery Case Against Company

Details

Publish Date:
November 25, 2022
Author(s):
Source:
The Wall Street Journal
Related Person(s):
Related Organization(s):

Summary

Allowing the ABB parent company to avoid a guilty plea will in theory help shield much of its business globally from those risks. The company is a major recipient of public contracts, including in the U.S.

“All eyes are going to be on DOJ,” said Joseph Grundfest, a professor at Stanford Law School who specializes in corporate governance, referring to prosecutors’ handling of the case in the U.S. “How serious are they about upping the ante for repeat offenders?”

Once the agreement is finalized, ABB will become the first company to have settled three separate FCPA-related violations by businesses under its control at the time of the alleged offense, according to Stanford Law’s FCPA Clearinghouse database.

Read More