Earlier this week, the Department of Justice (DOJ) announced that Norwegian Shipping company Wallenius Wilhelmsen Logistics AS (WWL) has agreed to pay a $98.9 million fine for its role in a price-fixing scheme with other international shipping companies that lasted more than a decade.
As part of an ongoing anti-trust investigation, WWL is the fourth
On April 5, 2016, the U.S. Department of Justice announced a significant increase in its efforts to enforce the Foreign Corrupt Practices Act (FCPA).
The DOJ’s three-step plan increases personnel dedicated to investigating FCPA violations, fosters international cooperation and coordination in ongoing investigations and further incentivizes companies to self-disclose FCPA issues.
We invite you to
On Monday, May 9, a large collection of data behind the Panama Papers was released by the International Consortium of Investigative Journalists (ICIJ). The ICIJ published a searchable database that strips away the secrecy of more than 200,000 offshore entities created in 21 jurisdictions
The U.S. Securities and Exchange Commission has agreed to a $28 million settlement with software producer PTC, Inc. following allegations of bribes paid to Chinese officials between 2006 and 2011 in violation of the Foreign Corrupt Practice Act (FCPA).
In the administrative proceeding (No. 3-17118), the SEC alleged that two of PTC’s Chinese subsidiaries bribed
In U.S. v. Nitek Electronics, Inc., the Federal Circuit constrained the Department of Justice’s ability to seek import penalties based on a culpability level different than the level alleged by the Customs and Border Protection during the administrative penalty process.
Generally, when pursing
Although the number of FCPA enforcement actions by the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) are down in 2015, a recent report indicates the the third quarter saw twice as many FCPA claims resolved as the first two quarters of 2015 combined.
There does not appear to be a clear single
In September 2015, Avon Products, Inc. reached a $62 million settlement in a class action brought by investors alleging securities fraud. Specifically, the investors claimed that Avon intentionally mislead investors about the company’s compliance with the Foreign Corrupt Practices Act which, in turn, artificially inflated Avon’s stock price.
The class action followed Avon’s payment of