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Violation Tracker Individual Record

Company: Tyco International Ltd., Tyco Electronics Ltd., and Covidien 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: $24,500,000
Year: 2009
Date: May 20, 2009
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Violation Description: 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
Facility State: Michigan
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.