Seagate to Pay $300 Million US Penalty on Huawei Sales (2)

Seagate Technology Holdings Plc, the biggest maker of computer hard drives, will pay a $300 million civil penalty to the US Commerce Department to resolve alleged violations of export controls in selling millions of units to Huawei Technologies Co.

The deal announced Wednesday is the largest standalone settlement in the history of the Bureau of Industry and Security, which is in charge of export controls, Commerce said in a statement.

The penalty includes a mandatory multi-year audit requirement and five-year suspended denial order. As part of the settlement, Seagate admitted to the accusations, Commerce said.

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