Financial Times FT.com

Siemens board set to sue ex-chiefs

By Daniel Schäfer

Published: July 22 2008 22:30 | Last updated: July 22 2008 22:52

Siemens’ supervisory board is expected next Tuesday to launch legal action against 10 of the engineering group’s former executive board members, including ex-chief executives Heinrich von Pierer and Klaus Kleinfeld, over their roles in a €1.3bn ($2bn) bribery scandal.

People close to the company said its supervisory board was due to approve claims for damages resulting from the bribery scandal that could potentially cost Europe’s biggest industrial group several billion euros.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this