Violation Tracker Individual Record
Company:Tyco International Ltd., Tyco Electronics Ltd., and Covidien Ltd.
Date:May 20, 2009
Offense Group:financial offenses
Primary Offense:investor protection violation
Secondary Offense:securities issuance or trading violation
Tyco agreed to pay $24.5 million in settlement of allegations it violated securities laws by artificially inflating the price of its stock, later causing Michigan's pension funds to lose millions of dollars.
Level of Government:state
Action Type:agency action
Agency:Michigan Attorney General
Civil or Criminal Case:civil
HQ Country of Parent:Ireland (reincorporated for tax reasons)
Ownership Structure of Parent:publicly traded
Major Industry of Parent:automotive parts
Specific Industry of Parent:automotive parts; business services
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