Michael Herman and AP
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Siemens is planning to sue two former chief executives and nine other former senior managers for alleged supervisory failings that led to a corruption scandal at the German engineering group.
Siemens’ current supervisory board has said it will seek damages from Heinrich von Pierer, former chief executive, and his successor Klaus Kleinfeld.
In a statement, Siemens said it was basing its claim for damages on alleged “breaches of organisational and supervisory duties relating to illegal business practices and extensive bribery between 2003 and 2006".
Siemens added that the scandal was placing a substantial financial burden on the company but did not state how much it was demanding in compensation.
The company said the 11 former board members “will be given an opportunity to state their positions on the accusations before legal action for damages is taken”.
In May prosecutors opened administrative proceedings against Mr von Pierer on suspicion of possible violation of oversight duty, which could lead to fines but not imprisonment.
They stopped short of launching a criminal investigation. He has denied any wrongdoing.
Mr Kleinfeld has never been formally accused of any wrongdoing.
Siemens has acknowledged dubious payments of up to €1.3 billion (US$2 billion) in the corruption case that came to light last year.
An investigation commissioned by Siemens has found evidence of violations across the company and in several countries.
The company has put the total costs incurred by the scandal at €1.9 billion.
Yesterday Reinhard Siekaczek, a former Siemens manager was convicted of breach of trust in the first trial related to the scandal. He was given a suspended prison sentence.
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