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SEC Subpoena For Teva

Israel’s Teva Pharmaceutical Industries Limited said it was subpoenaed by the SEC because of potential FCPA compliance problems in Latin America.

Drug-maker Teva, one of Israel’s biggest companies, said in an SEC filing last week it is cooperating with the U.S. government and conducting its own internal investigation.

Teva didn’t provide other details or say what triggered the SEC subpoena that came in July.

The SEC doesn’t comment on pending FCPA investigations or disclose unresolved whistleblower complaints.

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Here’s Teva’s full FCPA disclosure from its August 2, 2012 Form 6-K (Report of Foreign Private Issuer):

Teva received a subpoena dated July 9, 2012 from the SEC to produce documents with respect to compliance with the Foreign Corrupt Practice Act (“FCPA”) in Latin America. Teva is cooperating with the government. Teva is also conducting a voluntary investigation into certain business practices which may have FCPA implications and has engaged independent counsel to assist in its investigation. These matters are in their early stages and no conclusion can be drawn at this time as to any likely outcomes.


Research courtesy of ethiXbase, the world’s largest database of anti-corruption legislation, gift-giving regulations, investigations, and enforcement actions.




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