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Brazilian state of Sao Paulo to sue Siemens

Brazilian state of Sao Paulo to sue German engineering giant Siemens

Brazilian state of Sao Paulo to sue Siemens

SAO PAULO (AP) -- The Brazilian state of Sao Paulo says it will file a lawsuit against German engineering giant Siemens AG to recover funds lost to an alleged price-fixing cartel involved in the construction and upkeep of the subway and train system of the city of Sao Paulo.

The state government said in a statement posted Tuesday night on its website that in May Siemens told CADE, Brazil's antitrust agency, of the existence of the cartel.

"Twice the company (Siemens) was asked to collaborate with the investigation and twice it refused to do so," the statement quoted state Gov. Geraldo Alckmin as saying. "This is why we are taking legal action against the company to get total reimbursement."

The statement does not say how much the state hopes to recover.


Updated : 2021-03-03 07:42 GMT+08:00