Archive

SEC Enforcement Spotlight – Mead Johnson Nutrition

Mead Johnson Nutrition Company agreed to pay $12 million to settle SEC findings that it violated the Foreign Corrupt Practice Act (“FCPA”).  An SEC investigation found that employees of Mead Johnson’s Chinese subsidiary made improper payments to healthcare professionals at government-owned hospitals to induce them to recommend Mead Johnson’s infant formula to new or expectant mothers.  See SEC Press...

In Their Own Words -- Tillipman

-- “Let’s be clear about one thing: Chuck Blazer is not a whistleblower. And more importantly, the media’s haphazard use of this term to describe Blazer is a disservice to the brave individuals that may legitimately be deemed ‘whistleblowers.’"

-- Jessica Tillipman, Senior Editor of the FCPA Blog and Assistant Dean at The George Washington University Law School.  Click here for more.  

SEC Enforcement Spotlight -- FLIR Systems

By the C|C Whistleblower Lawyer Team Oregon-based defense contractor FLIR Systems Inc. agreed to pay more than $9.5 million to settle charges by the Securities and Exchange Commission (SEC) that the company violated the Foreign Corrupt Practices Act (FCPA) by financing a “world tour” of personal travel and gifts for Middle East government officials.  FLIR, which develops infrared technology for use in...

Top-10 FCPA (Foreign Corrupt Practices Act) Settlements for 2014

By the C|C Whistleblower Lawyer Team Here is our look-back at the top-10 FCPA (Foreign Corrupt Practices Act) settlements for 2014. 10.  Bruker Corp. -- The Massachusetts-based manufacturer of scientific instruments agreed to pay $2.4 million to settle charges of providing non-business related travel and improper payments to various Chinese government officials in an effort to win business there. Click here...

DOJ Catch of the Week -- Alstom S.A.

[caption id="" align="alignright" width="218"] Photo Credit: Alstom[/caption] By the C|C Whistleblower Lawyer Team This week's Department of Justice "catch of the week" goes to French power and transportation company Alstom S.A. On Monday, the company pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) and agreed to pay a whopping $772 million to resolve charges of a widespread international...

DOJ Catch of the Week -- Avon Products

[caption id="attachment_10540" align="alignright" width="300"] Photo Credit: Avon[/caption] By the C|C Whistleblower Lawyer Team This week's Department of Justice "catch of the week" goes to New York-based cosmetics company Avon Products. On Wednesday, its wholly owned subsidiary Avon Products (China) Co. Ltd. pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) by making and concealing illicit...

DOJ Declares Record Year for Fraud Recoveries with a Notable Nod to Whistleblowers

By the C|C Whistleblower Lawyer Team Yesterday, outgoing Attorney General Eric Holder -- perhaps in one of his final swan songs as the country's top fraud cop -- trumpeted the $24.7 billion in civil and criminal fines the Department of Justice brought home this fiscal year (ending Sept. 30, 2014).  See DOJ Press Release.  It is more than three times the $8 billion DOJ recovered in 2013.  It also represents close...

Bio-Rad Pays Big for International Bribery Scheme

By Marlene Koury Medical diagnostics and life sciences manufacturing and sales company Bio-Rad Laboratories, Inc. has agreed to pay $55 million to settle related SEC and DOJ charges that it violated the Foreign Corrupt Practices Act ("FCPA"). In the SEC matter, California-based Bio-Rad agreed to pay $40.7 million in disgorgement and prejudgment interest to resolve allegations that the company made improper payments...

JP Morgan Testing the Boundaries of FCPA Foreign Bribery Rules

By Gordon Schnell It is a practice that apparently has been going on for years by Wall Street's biggest banks.  Hire the children of high-up Chinese officials and use them to secure big deals in China's ever-expanding economy.  There is nothing inherently wrong with hiring well-connected people.  After all, relationships are what matter most in the business world.  The problem is that when it comes to doing...

Fifth Circuit Eliminates Key Whistleblower Retaliation Protections Under Dodd-Frank – A Pyrrhic Victory for Corporations

By Gordon Schnell In a legal ruling that many corporations are surely celebrating, the Fifth Circuit Court of Appeals has significantly narrowed the scope of who qualifies as a whistleblower under the Dodd-Frank Act.  It is only those individuals who actually provide information to the government (through the SEC or CFTC).  If a whistleblower only reports internally, to a supervisor or through the company's...