HP Pays $108 Million To Settle Bribery Charges
The U.S. Department of Justice and the Securities and Exchange Commission this week said Hewlett-Packard agreed to pay more than $108 million to settle charges the company's subsidiaries in Russia, Poland and Mexico made "improper payments to government officials to obtain or retain lucrative public contracts." Such payments violate the U.S. Foreign Corrupt Practices Act.
HP, in a statement, emphasized that it had cooperated with the investigation and said that in addition to the fines, the company would assume "certain compliance, reporting and cooperation obligations." The company said the misconduct outlined in the charges "was limited to a small number of people who are no longer employed by the company."