SAP's ~$220M Cleanup: German Software Giant Settles Foreign Bribery Charges
Portfolio Pulse from Lekha Gupta
SAP SE (NYSE:SAP) has agreed to pay over $220 million to settle U.S. DOJ and SEC investigations for FCPA violations involving bribery in Indonesia and South Africa. The company entered a three-year deferred prosecution agreement and will release Q4 earnings on January 24, 2024. SAP shares are up by 0.55% at $156.70.
January 11, 2024 | 3:13 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
SAP SE settles U.S. DOJ and SEC foreign bribery charges for $220M and enters a deferred prosecution agreement. The company's stock price saw a slight increase despite the legal issues.
While the settlement of the foreign bribery charges removes legal uncertainty, the payment of $220 million is significant and could have been a negative factor. However, the slight uptick in stock price suggests that the market had anticipated this resolution or viewed the settlement as a positive step towards resolving the company's legal issues. The upcoming Q4 earnings release may have a more pronounced impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100