MicroStrategy Incorporated (NASDAQ:MSTR) revealed that its Brazilian subsidiary, MicroStrategy Brasil, has signed a leniency agreement with Brazil's Federal Comptroller General (CGU) and Federal General Attorney’s Office (AGU).

This agreement stems from a voluntary disclosure made by the subsidiary in 2018 regarding non-compliance with Brazilian procurement regulations between 2014 and 2018.

Under the terms of the agreement, MicroStrategy Brasil will pay approximately BRL 6.16 million (USD 1.1 million) and has committed to enhancing its compliance program.

In addition, the CGU has agreed to dismiss its pending administrative action against the company over alleged procurement violations, which was initiated by the CGU’s enforcement division.