Siemens AG claims damages from 11 former members of Corporate Executive Committee

Siemens AG is asserting claims for damages against former members of the former Corporate Executive Committee of the Managing Board of Siemens AG, it said in a July 29 announcement.

07/29/2008


Munich, Germany – Siemens AG is asserting claims for damages against former members of the former Corporate Executive Committee of the Managing Board of Siemens AG, it said in a July 29 announcement. The company says it bases its claims on alleged breaches of organizational and supervisory duties in view of theaccusations of illegal business practices and bribery that occurred in the course of international business transactions in the years 2003 to 2006 and the resulting financial burdens to the company. 
The Supervisory Board of Siemens AG adopted a resolution to this effect at its meeting on July 29, 2008. The company statement says the 11 former members of the Corporate Executive Committee
For a list of names and more information from Siemens, read: Siemens AG claims damages from eleven former members of the Corporate Executive Committee .

– Edited by Mark T. Hoske , editor in chief
Control Engineering News Desk
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