The lawsuit alleged that the drilling company’s board of directors failed to prevent FCPA violations.
Numerous shareholder derivative suits are pending related to FCPA investigations as investors look for damages and payment for attorneys’ fees. Recent settlements haven’t paid big prizes.
In April 2011, three separate federal lawsuits were filed against leadership of Las Vegas Sands Corp. These suits were consolidated Aug. 25 in Nevada federal court with Dallas-based Kendall Law Group LLP as lead counsel. Joe Kendall and other lawyers from the firm represent clients in an unrelated shareholder suit involving Weatherford International in Houston.
The discount off the low-end of the Federal Sentencing Guidelines fine range reflected the company’s self-disclosure of bribery violations, its beefed-up compliance program and cooperation with prosecutors.
The Houston-based oil driller said in a May 2008 regulatory filing that it became a target in pending enforcement investigations by the SEC and DOJ. The company hired former SEC enforcement lawyer Tom Hanusik of Crowell & Moring LLP in Washington, D.C., to investigate.
Pride International Inc., one of more than a dozen oil and gas-related companies that used logistics intermediary Panalpina World Transport Ltd. to bribe customs agents in Nigeria and elsewhere, allegedly paid more than $4 million in bribes and kickbacks from 2001 to 2006.
Dallas plaintiffs’ lawyer Hamilton Lindley believes he’s at the vanguard of a potentially lucrative new legal practice: the filing of shareholder derivative lawsuits sparked by Foreign Corrupt Practices Act disclosures.
ERNST & YOUNG LLP's BRIAN LOUGHMAN ON TRENDS IN GLOBAL FORENSIC ACCOUNTING: Loughman, the Americas leader of Fraud Investigation & Dispute Services, discusses how increased government enforcement, awareness of corruption risk and an emphasis on proactive compliance assessments by corporations is driving double-digit growth in the New York-based practice he leads.
FCPA TRIAL FIRM OF THE YEAR: Finalists are announced in Main Justice's 2013 Best FCPA Lawyer Client Service Awards category, Trial Firm of the Year. The diamond award went to Eric Bruce and Matt Menchel of Kobre & Kim LLP for their defense of two FCPA sting trial defendants.