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Siemens Reaches $6 Million Settlement with Feds

May 14, 2015

Siemens’ imaging business division agreed last week to pay almost $6 million to settle allegations that it overcharged the U.S. Department of Defense and Veterans Affairs Department. Federal prosecutors claimed that the German devicemaker overbilled the organizations between 2002 and 2008.

The prosecutors say that the company did not offer the DOD the best price on certain purchases and hiked prices on the VA for imaging devices that were converted to newer models.

Siemens expressly denied the allegations, but agreed to settle to avoid the delay, uncertainty, inconvenience and expense of protracted litigation, according to the settlement agreement. — Jason Scott