Following the much-publicized US$422 million trilateral Keppel Offshore & Marine resolution, Singapore has introduced a DPA framework. The resolution was reached in late 2017 to settle anti-corruption charges posed by regulators in the United States, Brazil and Singapore. As part of the resolution, KOM entered into a deferred prosecution agreement with the United States’ Department … Continue Reading
The Department of Justice Antitrust Division (DOJ) announced May 15 that it is investigating the proposed acquisition of the Chicago Sun-Times newspaper by the owner of rival publication the Chicago Tribune. As a condition of proceeding with the sale, the DOJ has required that the Chicago Sun-Times advertise for an alternative buyer. The investigation demonstrates … Continue Reading
Duke Energy Corporation (Duke) agreed to pay $600,000 to settle a DOJ claim that it violated the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) by failing to comply with the HSR waiting period requirement. The complaint from the DOJ originated from Duke’s acquisition of the Osprey natural gas power plant from Calpine Corporation, which … Continue Reading
This post was also written by Matthew J. Thomas. ING Bank N.V., a Dutch financial institution, has agreed to pay $619 million in a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC), the Department of Justice (DOJ) and the Manhattan District Attorney. The settlement is the result of OFAC’s investigation into an … Continue Reading
This post was also written by Leonard E. Hudson. The Department of Justice suffered a “stinging” setback to its widely touted FCPA Africa Sting prosecution late last week when the first of four anticipated trials based upon its most aggressive Foreign Corrupt Practices Act investigation to date ended in a mistrial. The jury deadlocked after … Continue Reading
In a stunning jury verdict following a five-week trial, a California federal jury took just one day to find a privately-held company and two of its senior officers guilty on all counts of violating the Foreign Corrupt Practices Act (“FCPA”). The verdict against Lindsay Manufacturing Company (“Lindsay Manufacturing”), a manufacturer of electrical transmission towers, is … Continue Reading
