Report: Siemens close to SEC corruption settlement
Business Law
Industrial conglomerate Siemens AG is close to reaching a settlement with U.S. and German authorities over its long-standing corruption scandal, daily Sueddeutsche Zeitung reported Thursday.
Munich-based Siemens would not comment on the report.
"We're hoping on an agreement with the SEC before Christmas," a Siemens supervisory board member told the newspaper, referring to the U.S. Securities and Exchange Commission. "If necessary, we'll meet December 23rd."
Siemens is subject to fines in the U.S. because it's also listed on the New York Stock Exchange.
Siemens, which makes everything from trains to light bulbs, was first rocked by claims of corruption in 2006. Evidence began to surface in 2007 and the company has since acknowledged dubious payments to secure business around the world of up to euro1.3 billion ($1.7 billion).
In November, Siemens said it had set aside approximately euro1 billion to be booked in the last quarter of its 2008 fiscal year for any settlements related to the case. The company's fiscal year ended in September.
Siemens has said including the provision last fiscal year, the total cost of the corruption scandal is about euro2.5 billion to date.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.