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FCPA Blog Daily News

Entries in Disgorgement (45)

Friday
Jun302017

Boston contractor pays $4 million for declination with disgorgement

Privately held CDM Smith Inc. entered into a declination with disgorgement Thursday with the Justice Department to resolve FCPA offenses in India.

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Tuesday
Jun202017

Linde pays $11 million for declination with disgorgement

Two American units of Germany's Linde Group received a declination with disgorgement from the DOJ Friday for FCPA offenses in the Republic of Georgia.

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Wednesday
Jun072017

Marc Alain Bohn: After Kokesh, new pressure on SEC to settle faster

The U.S. Supreme Court issued its highly anticipated opinion in Kokesh v. SEC Monday, unanimously holding that the SEC’s use of disgorgement operates as a penalty under federal law and is therefore not freed from the five-year statute of limitations.

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Tuesday
Jun062017

Supreme Court limits SEC disgorgement power

The U.S. Supreme Court Monday ruled 9-0 to limit the Securities and Exchange Commission's legal authority to recover ill-gotten profits from defendants.

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Friday
Mar102017

DOJ will keep Pilot Program after April expiry during evaluation

A DOJ official said Friday the Pilot Program won't expire on April 5 but will continue while the agency evaluates how the program has worked and whether it should be extended or changed.

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Tuesday
Jan172017

Chilean chemical company pays $30.5 million for FCPA violations

Sociedad Química y Minera de Chile SA agreed Friday to pay $30.5 million to resolve criminal and civil Foreign Corrupt Practices Act charges that it bribed Chilean politicians to influence government policies and plans.

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Saturday
Jan142017

Practice Alert: Supreme Court to decide whether 5-year statute of limitations applies to disgorgement

In a key development of relevance to the FCPA bar, the U.S. Supreme Court Friday accepted cert in Kokesh v. SEC (16-529). The issue presented in the cert petition is: “Whether the five-year statute of limitations in 28 U.S.C. § 2462 applies to claims for 'disgorgement.'”

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Tuesday
Jan032017

The 2016 FCPA Enforcement Index

Last year 27 companies paid about $2.48 billion to resolve FCPA cases. It was the biggest enforcement year in FCPA history. Both the number of enforcement actions and the overall amounts paid to resolve them were records.

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Monday
Jan022017

Teva pays second biggest FCPA disgorgement

Teva Pharmaceutical's $519 million enforcement action last month included disgorgement to the SEC of $236 million -- the second biggest FCPA disgorgement of all time.

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Monday
Dec192016

Rebecca Gantt: Looking for clues about the future of the Pilot Program

Last April, the DOJ's Criminal Division launched the one-year Pilot Program. The remaining four months of the Pilot Program promise to provide valuable information on several fronts.

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Wednesday
Nov302016

Daniel Patrick Wendt: So how does the DOJ calculate disgorgement?

In the prior post I talked about how, after nearly 40 years of FCPA history, the DOJ first used disgorgement as a remedy, including it this year in two declinations under the Pilot Program.

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Monday
Nov282016

Daniel Patrick Wendt: Are those DOJ disgorgements really disgorgement?

This year the DOJ required disgorgement of ill-gotten gains as a predicate for preferential treatment under the new FCPA enforcement Pilot Program, regardless of whether the participating company was publicly or privately owned. 

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