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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
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

Bill Steinman
Contributing Editor

For U.S. gun maker, Africa sting case goes on

Here’s the latest FCPA disclosure from Massachusetts-based Smith & Wesson from its Form 10-Q filed with the SEC on December 6. We’ve paragraphed the text for readability:

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On January 19, 2010, the DOJ unsealed indictments of 22 individuals from the law enforcement and military equipment industries, one of whom was our former Vice President-Sales, International & U.S.… Continue Reading

Alcoa, Alba settle bribes suit

Alcoa said Tuesday it has reached a settlement with Aluminium Bahrain B.S.C. (‘Alba’) to end a civil lawsuit that accused Alcoa of bribing Alba officials and overcharging for the supply of raw materials.… Continue Reading

In New Class Action Complaint, Sam Walton Speaks

Predictably, plaintiffs lawyers filed a class action suit this week against Walmart and several current and former executives.

It alleges they violated federal securities laws by issuing ‘materially false and misleading statements regarding Walmart’s practices with respect to unlawful or unethical conduct’ — specifically that ‘executives had been involved in a multi-million-dollar bribery scheme at Walmart’s Mexican subsidiary, Wal-Mart de Mexico.’… Continue Reading

The Alba Files

Checking on loose ends is a year-end thing around here. Falling into that category is the two-year old civil suit against Alcoa by Aluminium Bahrain BSC. Alba, as it’s known, is majority-owned by the government of Bahrain.… Continue Reading

Private Suit Alleges China Bribes

A civil complaint filed last month in Indiana state court alleges that Allison Transmission executives paid bribes in China to win work there. 

Stephen Lowe, an American working for Allison in Shanghai, said he witnessed cash payments, gifts of jewelry, and lavish parties for customers.… Continue Reading

News From The Neighborhood

Kevin LaCroix, left, who writes the D&O Diary, had a fascinating post last week about follow-on civil litigation brought by investors against companies that have been the target of an FCPA enforcement action.… Continue Reading

Watching For Whistleblowers

In its quarterly report released August 9, SciClone Pharmaceuticals, Inc. said it received an SEC subpoena and a letter from the DOJ investigating the “sale, licensing and marketing of its products in foreign countries, including China.”… Continue Reading

Plaintiffs Keep Trying

Parker Drilling’s directors are facing a shareholder suit that was brought after the company’s detailed disclosure earlier this month that it is being investigated by the Justice Department and Securities and Exchange Commission for compliance problems in Nigeria and Kazakhstan.… Continue Reading

Feds Seek Sojitz Stay

The Justice Department has intervened for the second time in civil suits brought by Aluminium Bahrain BSC — known as Alba — against its raw material suppliers and brokers. Last week, the DOJ asked for a stay in Alba’s suit against Japanese trading company Sojitz Corp.… Continue Reading