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Home » Philips to Pay $62 Million to Resolve Charges of Violating U.S. Law in China
Philips to Pay $62 Million to Resolve Charges of Violating U.S. Law in China
Netherlands-based devicemaker Philips has agreed to pay $62 million to settle charges made by the U.S. Securities and Exchange Commission (SEC) that it “engaged in improper conduct to influence foreign officials ... to increase the likelihood that Philips’ products were selected” as well as using improper bidding practices in China between 2014 and 2019.