Bombardier Inc. is a Canadian based business jet manufacturer. Its stock is traded on the Toronto Stock Exchange under the ticker BBD-B.
In a quarterly report issued on May 11, 2017, Bombardier disclosed that since the fourth quarter of 2016, one of the company's subsidiaries in Sweden was cooperating with Swedish authorities in relation to an investigation into possible misconduct in connection with a 2013 contract for the supply of signaling equipment to Azerbaijan Railways ADY (the "ADY Contract"). Bombardier also noted that the matter was being audited by the World Bank, which had been a partner on the original contract. As of the company's most recent quarterly report issued on August 4, 2022, the World Bank audit was ongoing.
In a quarterly report issued on November 8, 2018, Bombardier disclosed that on September 7, 2018, the DOJ had informed the company's South African subsidiary, Bombardier Transportation South Africa (Pty.) Ltd., that the agency had opened an investigation into the company's dealings with the South African train operator Transnet Freight Rail.
In a quarterly report issued on August 1, 2019, Bombardier confirmed that the company had launched an internal review into the allegations in October 2016. Bombardier hired external forensic advisors and external counsel to help conduct the review. As of the company's most recent quarterly report issued on August 4, 2022, the internal review was ongoing. However, Bombardier also said the internal review had not revealed any evidence that suggested a corrupt payment was made or offered to a public official or that any other criminal activity involving the company took place.
Swedish authorities have so far unsuccessfully prosecuted two separate employees of the Swedish subsidiary. While both prosecutions ended in acquittals, the second acquittal is currently being appealed.
In a quarterly report issued on August 6, 2020, Bombardier disclosed that on February 10, 2020, counsel assisting the company with the World Bank audit received a letter from the DOJ requesting the communication of documents and information regarding the ADY Contract.
In a quarterly report issued on May 6, 2021, Bombardier disclosed that the company had received an additional request from the DOJ on January 11, 2021, for documents and information relating to the South African investigation. In the same quarterly report, Bombardier also disclosed that the DOJ had requested documents and information in connection with possible misconduct in Indonesia, which the company and the U.K. Serious Fraud Office had been investigating since around May 2020.
Bombardier said it was cooperating in the various investigations.
On April 1, 2025, the DOJ informed Bombardier that it had closed its investigations into the ADY Contract and the possible misconduct in Indodnesia.
It appears that the South African investigation is ongoing.
