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Diebold reaches agreement with SEC staff; U.S. Attorney won't file charges
May 4, 2009
NORTH CANTON, Ohio — Diebold Inc. says it has reached an agreement in principle with the staff of the Securities and Exchange Commission to settle civil charges stemming from the staff's investigation.
According to a news release, Diebold also has been informed by the United States Attorney's Office for the Northern District of Ohio that it will not bring criminal charges against the company in connection with the transactions and accounting issues that are the subject of the SEC investigation.
Under the terms of the agreement, Diebold will neither admit nor deny civil securities fraud charges, will pay a penalty of $25 million, and and will agree to an injunction against committing or causing any violations or future violations of certain specified provisions of the federal securities laws. In connection with reaching the agreement in principle, the company recorded a charge of $25 million in the first quarter of 2009.
The agreement remains subject to the final approval of the SEC.
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Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
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