HP Agrees to Pay $108 Million to Settle Corruption Probes

Apr 10, 2014 05:38 PM EDT | Matt Mercuro

Hewlett-Packard has agreed to pay $108 million and take on certain reporting and compliance obligations to resolve a Justice Department and SEC investigation, according to Reuters.

The U.S. Justice Department and SEC opened probes into potential violations of the Foreign Corrupt Practices Act. They have been investigating HP's recent behavior in Russia, Poland and other countries lately.

"The misconduct described in the settlement was limited to a small number of people who are no longer employed by the company," John Schultz, HP's executive vice president and general counsel said in a statement this week, according to Reuters.

On April 8, Polish prosecutors claimed that a HP executive paid bribes of over $500,000 in exchange "for help winning contracts to supply computer equipment to Polish police headquarters," according to Reuters.

HP has declined to comment on details of that case as of press time.

"HP fully cooperated with both the Department of Justice and the Securities and Exchange Commission in the investigation of these matters and will continue to provide customers around the world with top quality products and services without interruption," Schultz said.

The company also failed to elaborate on what obligations it has agreed to take on in its settlement, according to Reuters.

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