Akzo Nobel Pays $2.9 Million For FCPA Violations Under the U.N. Oil for Food Program
Akzo Nobel N.V., a Netherlands-based pharmaceutical company, settled U.S. Foreign Corrupt Practices Act books and records charges with the U.S. Department of Justice and the Securities and Exchange Commission. With the SEC, Akzo Nobel consented to the entry of a final judgment permanently enjoining it from future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934, ordering it to disgorge $1,647,363 in profits, plus $584,150 in pre-judgment interest, and to pay a civil penalty of $750,000.… Continue Reading