Siemens, von Pierer strike deal to settle case-sources

MUNICH Dec 1 (Reuters) - Germany's Siemens (SIEGn.DE) has reached an agreement in principle with its former Chairman Heinrich von Pierer to settle a corruption case, two sources familiar with the matter told Reuters on Tuesday.

Under the deal, Siemens has agreed to reduce the amount von Pierer would pay to the company to more than 4 million euros ($6 million) from the original 6 million euros it had demanded in damages in connection with a corruption investigation.

Siemens had agreed in December to pay more than $1.3 billion to settle corruption probes in the United States and Germany, ending two years of controversy that rocked the German engineering conglomerate. [ID:nN15508680]

Siemens had said it wanted to claim damages from 11 former top managers including von Pierer for failing to stop illegal practices and bribery at the company.

The sources said Siemens' supervisory board, which is due to meet tomorrow, have to formally approve the agreement.

Von Pierer's lawyer declined to comment, as did a spokesman for Siemens.

Von Pierer was not accused of crimes and he denied any wrongdoing.

((Reporting by Jens Hack; Writing by Marilyn Gerlach; Reuters Messaging: marilyn.gerlach.reuters.com@reuters.net@; 00 49 69 7565 1279)) ($1=.6638 Euro)