Daimler Deal Reported

The New York Times's DealBook says in a post today that "Daimler has agreed to pay about $185 million in fines, and two of its subsidiaries will plead guilty to bribing foreign government officials, to settle a multiyear corruption investigation." Parent-company Daimler AG "will avoid indictment," the report said.

The DealBook post was based on a story in the Times by Charlie Savage. He reported that "Daimler has agreed to pay a $96.3 million criminal fine and a $91.4 million civil fine, along with entering a consent decree with the Securities and Exchange Commission." His source requested anonymity.

The government hasn't commented. A hearing is scheduled for April 1 before U.S. district judge Richard J. Leon in Washington.

A possible $200 million settlement involving two subsidiaries was first reported in February. A Daimler spokesperson said then: “We are in discussions with the DOJ and the SEC regarding consensually resolving the agencies’ investigations.”

See our posts here, here and here.