US Department Of Justice Says SAP To Pay Over $220M To Resolve Foreign Bribery Investigations
Portfolio Pulse from Benzinga Newsdesk
The US Department of Justice has announced that SAP will pay over $220 million to resolve investigations into foreign bribery. The settlement addresses allegations of SAP's involvement in violating the Foreign Corrupt Practices Act by engaging in bribery to secure business in foreign markets.
January 10, 2024 | 6:35 pm
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SAP has agreed to pay over $220 million to settle foreign bribery investigations by the US Department of Justice, which could impact investor sentiment and the company's financials.
The settlement amount is substantial and directly impacts SAP's financials. Such legal issues can negatively affect investor confidence and the company's reputation, potentially leading to a short-term decline in stock price.
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