|Ask||0.00 x 162800|
|Day's Range||469.10 - 469.10|
|52 Week Range||426.50 - 472.50|
|PE Ratio (TTM)||475.28|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
ABB Ltd. uncovered embezzlement at its South Korean subsidiary after the local treasurer suspected of stealing from the company went missing, leaving a $100 million shortfall in last year’s results.
ABB (ABBN.S) said it was cooperating with anti-fraud authorities in the United States and Britain and had reported past dealings with Monaco-based engineering and construction group Unaoil, including alleged improper payments to third parties. The Serious Fraud Office in Britain said earlier it has launched an investigation into the activities of ABB's United Kingdom subsidiaries, their officers, employees and agents for suspected bribery and corruption. "As a result of an internal investigation, ABB self-reported ... certain of its past dealings with Unaoil and its subsidiaries, including alleged improper payments made by these entities to third parties," ABB said in a statement.
ABB Ltd.'s (ABB) fourth-quarter 2016 earnings and revenues beat estimates.