Tag Archives: anti-corruption

Frequently-Filed FCPA Follow-On Securities Suits Face Formidable Obstacles

As I have often noted (for example, here), a company’s announcement that it is the subject of an FCPA-related investigation frequently leads to the filing of a follow-on civil lawsuit in which investor claimants allege either that the company’s senior officials have violated their oversight duties or that the company’s public disclosure statements were insufficient … Continue Reading

Brazilian Energy Company’s Corruption-Related U.S. Securities Suit Survives Dismissal Motion

As I have frequently noted (most recently here), Brazil’s ever-expanding corruption investigation that initially focused on Petrobras, the country’s state-run oil company, has swept up an increasing number of companies across the country’s economy (and elsewhere in Latin America as well). Among the companies caught up in the investigation is the country’s state-run electrical energy … Continue Reading

Brazilian Corruption Scandal Leads to Liability Exposures in Other Latin American Countries

The massive Petrobras bribery scandal has long since spread beyond just the Brazilian petroleum company itself to encompass a number of different other companies. As I have previously noted on this blog, many of the Brazilian companies caught up in these investigations have been hit with securities class action lawsuits in the U.S. Among the … Continue Reading

Guest Post: D&O Insurance Implications as Deferred Prosecution Agreements Take Off in the U.K.

On January 17, 2017, the U.K.’s Serious Fraud Office announced that it had entered into a significant Deferred Prosecution Agreement (DPA) with Rolls-Royce PLC following its approval by Sir Brian Leveson. The agreement followed an extensive investigation of alleged bribery involving the company’s operations in a number of different countries. The full text of the … Continue Reading

Guest Post: U.S. Parent Company Enters U.K.-Style Deferred Prosecution Agreement for Bribery

Deferred prosecution agreements have long been a part of the U.S. criminal enforcement environment, but they are relatively new in the United Kingdom. In addition, as the U.K. has begun to adopt the use of deferred prosecution agreements, it has adopted the agreements to its own system and legal requirements. In the following guest post, … Continue Reading

Guest Post: Developments Under Indian Anti-Corruption and Securities Laws

I am always pleased to be able to publish updates on important developments in other jurisdictions. In following guest post, I reproduce two articles about important developments in India. The first article discusses the widening scope of India’s Prevention of Corruption Act. The second article discusses a recent decision of the Supreme Court of India … Continue Reading

Petrobras Securities Suit: Judge Rakoff Rejects Company’s “Adverse Interest” Argument; Rules Brazilian Investors Must Arbitrate Brazilian Securities Law Claims

In an interesting opinion addressing several of the critical issues in the U.S. securities lawsuit arising out of Petrobras bribery scandal, on July 30, 2015, Southern District of New York Judge Jed Rakoff denied in part and grated in part the defendants’ motions to dismiss. Among other things, Judge Rakoff rejected the company’s “adverse interest” … Continue Reading

Another U.S. Securities Suit Arising from Overseas Corruption Investigation

In an earlier post, I noted that a significant factor driving securities litigation filings so far this year has been the rising number of U.S. securities lawsuits involving non-U.S. companies. A number of different factors are contributing to the filing of these suits, but among the factors is the increasing numbers of U.S.-listed non-U.S. companies … Continue Reading

The Troublesome Recent FCPA-Related Enforcement Action Involving the 2008 Beijing Olympics and Why It Matters

The dramatic pre-dawn arrest in Zurich of nine FIFA officials on bribery-related charges dominated the headlines last week. The FIFA corruption investigation news last week also overshadowed the resolution of an FCPA enforcement action involving different sports-related events – BHP Billiton’s sponsorship-related activities at the 2008 Summer Olympics in Beijing. Though the SEC’s enforcement action … Continue Reading
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