Alcoa Inc. has offered a Bahrain-controlled company at least $45 million to settle a federal lawsuit that alleges Alcoa-related firms paid millions in bribes that resulted in the other company overpaying for raw materials.
Attorneys for Aluminum Bahrain BSC, also known as Alba, did not immediately return calls and emails for comment Tuesday on the settlement offer disclosed in Alcoa’s latest earnings report on Monday.
“We continue to maintain that the facts do not support the claims brought by Alba. ... However, we are open to settlement to avoid the time and expense of complex litigation,” Alcoa spokeswoman Libby Archell said in a statement.
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