Ad-hoc | 15 December 2008 17:24
Siemens Aktiengesellschaft / Legal Matter
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Siemens AG announced today that legal proceedings against it arising out of
allegations of corruption of public officials were concluded on the same
day in Munich and in Washington, DC. Siemens will pay total fines and
penalties of approximately EUR 1 billion.
In Munich, the public prosecutor issued and Siemens AG accepted a fine of
EUR 395 million for failure to supervise its operations effectively. The
issued fine concludes the investigations conducted by the Munich public
prosecutor against Siemens AG. The investigations against former members of
the managing board and employees of Siemens AG as well as against other
individuals remain unaffected.
In Washington, DC, Siemens AG pled guilty in Federal Court to charges of
circumventing or failing to maintain adequate internal controls and failing
to comply with the books and records provisions of the U.S. Foreign Corrupt
Practices Act (FCPA). In related cases, three Siemens foreign subsidiaries
pled guilty to individual counts of conspiracy to violate the FCPA. In
connection with these pleas, Siemens and the three subsidiaries agreed to
pay a fine of $450 million (approx. EUR 355 million) to settle charges of
the United States Department of Justice (DOJ). At the same time, Siemens
settled a civil action against it brought by the U.S. Securities and
Exchange Commission (SEC) for violations of the FCPA. Siemens agreed to the
disgorgement of profits in the amount of $350 million (approx. EUR 275
million).
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Information and Explaination of the Issuer to this News:
Disclaimer
This document contains forward-looking statements and information – that
is, statements related to future, not past, events. These statements may be
identified by words such as 'expects,' 'looks forward to,' 'anticipates,'
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' 'will,' 'project' or
words of similar meaning. Such statements are based on our current
expectations and certain assumptions, and are, therefore, subject to
certain risks and uncertainties. A variety of factors, many of which are
beyond Siemens’ control, affect our operations, performance, business
strategy and results and could cause the actual results, performance or
achievements of Siemens to be materially different from any future results,
performance or achievements that may be expressed or implied by such
forward-looking statements. For us, particular uncertainties arise, among
others, from changes in general economic and business conditions (including
margin developments in major business areas); the challenges of integrating
major acquisitions and implementing joint ventures and other significant
portfolio measures; changes in currency exchange rates and interest rates;
introduction of competing products or technologies by other companies; lack
of acceptance of new products or services by customers targeted by Siemens;
changes in business strategy; the outcome of pending investigations and
legal proceedings, especially the corruption investigation we are currently
subject to in Germany, the United States and elsewhere; the potential
impact of such investigations and proceedings on our ongoing business
including our relationships with governments and other customers; the
potential impact of such matters on our financial statements; as well as
various other factors. More detailed information about certain of these
factors is contained throughout this report and in our other filings with
the SEC, which are available on the Siemens website, www.siemens.com, and
on the SEC's website, www.sec.gov. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in the
relevant forward-looking statement as expected, anticipated, intended,
planned, believed, sought, estimated or projected. Siemens does not intend
or assume any obligation to update or revise these forward-looking
statements in light of developments which differ from those anticipated.
Siemens Investor Relations
Christof Schwab
Tel.: +49 (89) 636-32677
Fax.: +49 (89) 636-32830
christof.schwab@siemens.com
15.12.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Siemens Aktiengesellschaft
Wittelsbacherplatz 2
80333 München
Deutschland
Phone: +49 (0)89 636-00
Fax: +49 (0)89 636-32908
E-mail: investorrelations@siemens.com
Internet: www.siemens.com
ISIN: DE0007236101
WKN: 723610
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Hannover, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) London, NYSE, SWX
End of News DGAP News-Service
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