Deere Cleared of Allegations of Illegal Payments to Foreign Officials
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.
The article Deere Cleared of Allegations of Illegal Payments to Foreign Officials originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.