Skip to content

Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Owens-Illinois launches FCPA investigation

Glass-maker Owens-Illinois Group, Inc. has disclosed an internal investigation into possible violations of the Foreign Corrupt Practices Act.

The Ohio-based company said in an SEC filing late last week that violations of the FCPA’s antibribery and books and records provisions may have occurred in overseas operations.

The disclosure didn’t specify the location or amount of payments under review.

The company has joint ventures in China, Italy, Malaysia, and Vietnam. With 24,000 employees, it does business in 86 countries.

Owens-Illinois said it self reported the investigation in October to the DOJ and SEC. Violations of local may also have occurred, the company said.

Owens-Illinois Group, Inc. trades on the NYSE under the symbol OI.

_____________

From the FCPA Blog members area, here’s Owens-Illinois’ full FCPA disclosure from its October 25 Form 10-Q filed with the SEC:

The Company is conducting an internal investigation into conduct in certain of its overseas operations that may have violated the anti-bribery provisions of the United States Foreign Corrupt Practices Act (FCPA), the FCPA’s books and records and internal controls provisions, the Company’s own internal policies, and various local laws. In October 2012, the Company voluntarily disclosed these matters to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). The Company intends to cooperate with any investigation by the DOJ and the SEC.

The Company is presently unable to predict the duration, scope or result of its internal investigation, of any investigations by the DOJ or the SEC or whether either agency will commence any legal action. The DOJ and the SEC have a broad range of civil and criminal sanctions under the FCPA and other laws and regulations including, but not limited to, injunctive relief, disgorgement, fines, penalties, and modifications to business practices. The Company also could be subject to investigation and sanctions outside the United States. While the Company is currently unable to quantify the impact of any potential sanctions or remedial measures, it does not expect such actions will have a material adverse effect on the Company’s liquidity, results of operations or financial condition.

For instant access to every FCPA disclosure filed with the SEC, join the FCPA Blog members area today.

Share this post

LinkedIn
Facebook
Twitter

Comments are closed for this article!