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Autoliv Provides Update on European Commission Investigation and Announces $210 Million Accrual

Autoliv, Inc (ALV)  More Company Research Source: PR Newswire
Last autoliv, inc earnings: 4/26 06:00 am Check Earnings Report
US:NYSE Investor Relations: autoliv.com/investors
PDF STOCKHOLM, Dec. 6, 2018 /PRNewswire/ --Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, provides an update on the European Commission's investigation of suppliers of occupant safety systems.As previously disclosed, since June 2011, Autoliv has been subject to an investigation of anti-competitive behavior among suppliers of occupant safety systems in the European Union (the "EC investigation"). Autoliv has been cooperating with the EC investigation. The EC previously concluded a discrete portion of its investigation in November 2017 and imposed a fine on the Company that was paid during the first quarter of 2018.Management now has reason to believe that the EC will seek to impose a fine in connection with the remaining portion of the EC investigation. According to management's best estimation and based on the advice of our legal counsel, the Company will accrue $210 million in the fourth quarter of 2018 in connection with the remaining port [Read more]

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