Siemens, Brazilian prosecutors negotiate settlement in bribery lawsuit

Posted On: Dec. 5, 2017 4:48 AM CST

Siemens A.G. is negotiating a settlement worth more than $307 million with Brazilian state prosecutors related to a bribery lawsuit, Reuters reported citing O Estado de S. Paulo. Lawyers for Siemens and Sao Paulo state prosecutors met recently to discuss the deal which would require the company to admit to illicit acts. The lawsuit accuses Siemens of forming a cartel and paying bribes to win a contract to provide trains for the Sao Paulo metropolitan transit system between 1998 and 2008.