Deere Cleared of Allegations of Illegal Payments to Foreign Officials
Jan 10th 2013 12:12PM
Updated Jan 10th 2013 1:05PM
On Thursday, Deere & Co. announced it has received a letter from the U.S. Securities and Exchange Commission confirming that the agency's Enforcement Division will not pursue action against the company for alleged violations of the Foreign Corrupt Practices Act.
News media reported in August 2011 that the SEC was investigating alleged improper payments by Deere to foreign officials in Russia and surrounding countries. Deere said at the time that it had received inquiries from the agency and was cooperating with the investigation. Now this investigation is complete, the company says, and it appears Deere is in the clear.
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