AMSTERDAM Tue Dec 24, 2013 4:53am EST
<span id="articleText"/>AMSTERDAM Dec 24 (Reuters) - Philips said it is looking into allegations that its medical equipment sales to Russia - one of the emerging markets where it is experiencing strong growth - ran afoul of the U.S. Magnitsky Act.
<span id="midArticle_0"/>The act was passed in the United States with a view to sanctioning several Russian officials thought to be responsible for the death of Russian lawyer Sergei Magnitsky who worked for Hermitage Capital, an American fund which invested in Russia.
<span id="midArticle_1"/>The Financial Times reported on Tuesday that a complaint had been filed by William Browder, the co-founder of Hermitage Capital, against Philips.
<span id="midArticle_2"/>The newspaper said Browder alleged that Philips appeared to have violated U.S. sanctions laws by selling its ultrasound machines and CAT scanners to RT-Medintegrator, which it said had been headed by one of the Russian officials named in the Magnitsky Act.
<span id="midArticle_3"/>"Philips is aware of Hermitage Capital's allegations. We are looking into the matter, but at this point we cannot provide any further comments," the company said in an emailed statement.
<span id="midArticle_4"/>Philips shares were down 0.13 percent at 0935 GMT.
<span id="midArticle_5"/>The Dutch healthcare equipment, lighting and consumer appliances group has started to reap the rewards of a turnaround strategy that includes increasing sales and profits in emerging markets such as Russia and China.
<span id="midArticle_6"/>
<span id="articleText"/>AMSTERDAM Dec 24 (Reuters) - Philips said it is looking into allegations that its medical equipment sales to Russia - one of the emerging markets where it is experiencing strong growth - ran afoul of the U.S. Magnitsky Act.
<span id="midArticle_0"/>The act was passed in the United States with a view to sanctioning several Russian officials thought to be responsible for the death of Russian lawyer Sergei Magnitsky who worked for Hermitage Capital, an American fund which invested in Russia.
<span id="midArticle_1"/>The Financial Times reported on Tuesday that a complaint had been filed by William Browder, the co-founder of Hermitage Capital, against Philips.
<span id="midArticle_2"/>The newspaper said Browder alleged that Philips appeared to have violated U.S. sanctions laws by selling its ultrasound machines and CAT scanners to RT-Medintegrator, which it said had been headed by one of the Russian officials named in the Magnitsky Act.
<span id="midArticle_3"/>"Philips is aware of Hermitage Capital's allegations. We are looking into the matter, but at this point we cannot provide any further comments," the company said in an emailed statement.
<span id="midArticle_4"/>Philips shares were down 0.13 percent at 0935 GMT.
<span id="midArticle_5"/>The Dutch healthcare equipment, lighting and consumer appliances group has started to reap the rewards of a turnaround strategy that includes increasing sales and profits in emerging markets such as Russia and China.
<span id="midArticle_6"/>
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