The biggest FCPA resolutions yearly show enormous variation and no predictable pattern. Although four of the biggest cases for each of the past ten years settled for more than $1 billion, with an overall average settlement size for the ten cases of about $996 million, a couple of years were laggards.… Continue Reading
Posts Tagged: Total S.A.
Last week’s $1.06 billion blockbuster resolution by Sweden’s Ericsson included disgorgement to the SEC of $540 million. By our count that’s the second biggest disgorgement ever ordered in an FCPA enforcement action.… Continue Reading
New anti-corruption legislation adopted Tuesday by France allows companies to enter into negotiated settlements with magistrates.
A court in Paris Thursday acquitted 14 companies of bribing the former Iraqi regime to win contracts under the the U.N. oil-for-food program.
Renault Trucks, Schneider Electric, and Legrand were among the companies acquitted, along with several senior managers.… Continue Reading
Monday’s $772 million DOJ enforcement action against Alstom SA and several subsidiaries landed second on our list of the top ten FCPA cases of all time.
The addition of Paris-based Alstom means three of the top ten FCPA cases now involve French companies.… Continue Reading
Hewlett-Packard’s $108 million settlement this week didn’t quite make our list of the top ten FCPA cases of all time. But with a disgorgement to the SEC of $26.4 million, H-P landed eleventh on the list of the biggest FCPA disgorgements.… Continue Reading
Acting Assistant Attorney General Mythili Raman of the Department of Justice’s Criminal Division announced on Wednesday that she is leaving the agency, effective March 21, 2014.
Under her leadership for the past year, the Criminal Division charged or convicted more than a dozen individuals for FCPA-related violations, and secured three of the ten of the biggest corporate FCPA resolutions ever involving a unit of Alcoa, France’s Total SA, and Weatherford International.… Continue Reading
As part of its $354 million settlement this week, Alcoa agreed to pay the third biggest disgorgement in FCPA history — $161 million.
What is disgorgement? It’s a remedy, according to our contributing editor Marc Alain Bohn, authorized by the Securities Exchange Act of 1934 that’s ‘used to deprive wrong-doers of their ill-gotten gains and deter violations of federal securities law.’… Continue Reading