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Violation Tracker Individual Record

Company: Tyco International Ltd.
Current Parent Company: Johnson Controls
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $73,250,000
Year: 2008
Date: April 30, 2008
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: The settlement resolved allegations brought in a 2002 civil suit that New Jersey's pension fund portfolio suffered significant losses due to insider trading at Tyco, failure on the part of Tyco executives to disclose millions of dollars in personal loan benefits received from the company, accounting improprieties, and other fraud.
Level of Government: state
Action Type: agency action
Agency: New Jersey Attorney General
Civil or Criminal Case: civil
Facility State: New Jersey
HQ Country of Current Parent: Ireland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: automotive parts
Specific Industry of Current Parent: automotive parts; business services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.