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« China releases new judicial interpretation on bribery enforcement | Main | 2012 Enforcement Index »
Thursday
Jan032013

Hewlett-Packard's latest FCPA disclosure (December 2012)

From Hewlett-Packard Company's Form 10-K filed with the SEC on December 27, 2012, here is the company's full FCPA disclosure:

The German Public Prosecutor's Office ("German PPO") has been conducting an investigation into allegations that current and former employees of HP engaged in bribery, embezzlement and tax evasion relating to a transaction between Hewlett-Packard ISE GmbH in Germany, a former subsidiary of HP, and the General Prosecutor's Office of the Russian Federation. The approximately €35 million transaction, which was referred to as the Russia GPO deal, spanned the years 2001 to 2006 and was for the delivery and installation of an information technology network. The U.S. Department of Justice and the SEC have also been conducting an investigation into the Russia GPO deal and potential violations of the Foreign Corrupt Practices Act ("FCPA"). Under the FCPA, a person or an entity could be subject to fines, civil penalties of up to $500,000 per violation and equitable remedies, including disgorgement and other injunctive relief. In addition, criminal penalties could range from the greater of $2 million per violation or twice the gross pecuniary gain or loss from the violation. HP is cooperating with these investigating agencies.

Every FCPA disclosure filed with the SEC is available from ethiXbase.

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