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Siemens Energy agrees to settlement with US in case over gas turbine contracts

Reuters
Summary
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80% Informative

Siemens Energy agrees to pay $104 million to settle investigation with U.S. authorities.

The German company says it used stolen trade secrets to inflate bids for contracts five years ago .

Initial case, brought by rival General Electric , was settled between the two companies in 2021 .

The settlement is subject to approval by the court in Virginia .

VR Score

91

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97

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58

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formal

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English

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65

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not offensive

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not hateful

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not detected

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short-lived

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