Update of the information related to litigations
Societe Generale has reached agreements in principle with the U.S. Department of Justice (“DOJ”) and the U.S. Commodity Futures Trading Commission (“CFTC”) to resolve their investigations relating to Societe Generale's IBOR submissions (“IBOR matter”), and with the DOJ and the French Parquet National Financier (“PNF”) to resolve their investigations relating to certain transactions involving Libyan counterparties (“Libyan matter”).
The PNF and DOJ agreements require judicial approval and have been submitted to the competent French and U.S. courts for hearings on June 4th and June 5th, respectively.
The monetary penalties to be paid are fully covered by the provision allocated to the IBOR and Libyan matters and booked in Societe Generale's accounts. As a result, these payments will have no impact on Societe Generale’s results.
Societe Generale cannot further comment on terms of these agreements, but will provide more details once they are made public by the relevant authorities/agencies.
Press contacts Paris:
Laetitia Maurel – +33 1 42 13 88 68 – laetitia.a.maurel@socgen.com
Antoine Lhéritier - + 33 1 42 13 68 99 - antoine.lheritier@socgen.com
Pascal Hénisse – + 33 1 57 29 54 08 – pascal.henisse@socgen.com
Press contact New-York:
James Galvin - + 1 212 278 71 31 – jim.galvin@sgcib.com
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