IBM Judge Questions SEC on Foreign Bribe Settlement
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A federal judge said he won’t “rubber stamp” the U.S. Securities and Exchange Commission’s settlement of foreign bribery allegations brought last year against International Business Machines Corp.
U.S. District Judge Richard Leon, during a hearing yesterday in Washington, criticized the SEC and IBM for opposing his proposed reporting requirements for the company. He said IBM and the SEC need to prove statistically that his disclosure obligations are too burdensome.