News and commentary about white-collar crime, enforcement, and compliance
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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
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 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
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
Aluminum Bahrain BSC (“Alba”) said last week it should be allowed to sue for damages in a U.S. court because it was victimized by alleged bribery and fraud that was ‘home-cooked .… Continue Reading
The Wall Street Journal’s Joe Palazzolo reported Friday that Aluminum Bahrain BSC’s civil suit against Alcoa has been reopened, and that Alcoa will ask that it be dismissed.
Alba, as state-owned Aluminum Bahrain BSC is known, filed the suit in 2008 in federal court in Alcoa’s hometown, Pittsburgh.… Continue Reading
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
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
Kevin LaCroix, 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
The Wall Street Journal is reporting that Swiss logistics giant Panalpina and its customer Shell are close to settlement of FCPA charges with the DOJ and SEC. The paper said Panalpina may pay about $85 million in penalties and Shell about $30 million.… Continue Reading
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
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
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