Agreement on the fine and disgorgement had reportedly been reached in November.
The new chairman of the Tokyo-based medical device maker — already rocked by a billion dollar accounting scandal — now says the company also may have violated the Foreign Corrupt Practices Act in Brazil.
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Final approval will come after a September hearing.
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The company has agreed to compliance changes and $10 million in attorney’s fees.
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Greece must speed up prosecutions and streamline foreign bribery laws, an OECD report says.
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.
Up in New Jersey, Johnson & Johnson faces both state and federal shareholder derivative lawsuits related to Foreign Corrupt Practices Act investigation by the Justice Department.
In April 2011, Johnson & Johnson entered into a deferred prosecution agreement with the Justice Department for FCPA charges against subsidiary DePuy Inc. Concurrently, the company settled a civil complaint [...]
Reps. Elijah Cummings (D-Md.) and Henry Waxman (D-Calif.) pressed for answers on potential conflicts of interest between the Chamber of Commerce’s push to amend U.S. foreign bribery laws and corporate representatives on its board. UPDATE: 4:14 p.m.
The investigation of Bristol-Myers, part of a larger probe of the pharmaceutical industry, began in 2006.
Edward Garnier laid out a timetable for deferred prosecution agreement legislation in Britain in an interview with Just Anti-Corruption.
The company settled charges that it had violated U.S. foreign bribery law in connection with an ongoing sweep of the medical device industry. UPDATED 5:13 p.m. with additional comment from Biomet.
Judges in Great Britain have been skeptical of such agreements, viewing them as a usurpation of the judiciary’s sentencing powers.
Otherwise, any legislation may not make it to Parliament before 2014.
The industry-wide corruption probe, announced in a 2009 speech by DOJ Criminal Division chief Lanny Breuer, stemmed from internal investigations by Pfizer and rival Johnson & Johnson.
The Justice Department and the Securities and Exchange Commission have been examining since 2004 whether the company violated the Foreign Corrupt Practices Act.
The company has previously disclosed that the SEC and DOJ are investigating it for potential violations of the FCPA.
Some 20 Foreign Corrupt Practices Act settlements from the last year are already eligible to produce a bounty.
After cultivating a reputation for his public service efforts, Tony Herman gets picked up by the FEC.
The tobacco company, which paid around $20 million last year to settle a foreign bribery case, hired Gibson, Dunn & Crutcher as its three-year compliance monitor.
The SEC approved new rules, following a high-pitched lobbying campaign by business interests.
The company said the SEC sought information about the company’s business in the Asia-Pacific region.
How Johnson & Johnson saved $17 million.
Lilly said on Friday it is in “advanced discussions” with the SEC to resolve a long-running investigation into the company’s business in Poland and other countries.
The DOJ’s Criminal Fraud Section and the SEC are investigating at least five other major pharmaceutical companies: GlaxoSmithKline PLC; Baxter International Inc.; Eli Lilly & Co.; Bristol-Myers Squibb Co.; and Merck & Co.
READING THE TEA LEAVES ON COMPLIANCE CREDIT: Jodi Avergun, partner at Cadwalader, Wickersham & Taft LLP, discusses recent cases that may signal what the Justice Department is willing to define as effective compliance.
Mary Jacoby is the founder of Main Justice and Editor-in-Chief of Just Anti-Corruption.
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- Indiana Online Identity Thief Sentenced to 48 Months in Prison for Counterfeit Credit Card Conspiracy Involving More Than $3 Million in Losses
- Former Co-Owner of Contracting Company Pleads Guilty to Defrauding U.S. Government
- Philadelphia La Cosa Nostra Capo Pleads Guilty to Racketeering Conspiracy
- Former Chief of Party in Baghdad for the United States Institute of Peace Pleads Guilty to Wire Fraud Conspiracy
- Jared Lee Loughner Pleads Guilty to Federal Charges in Tucson Shooting
- Pfizer H.C.P. Corp. Agrees to Pay $15 Million Penalty to Resolve Foreign Bribery Investigation
- Former Alabama Governor Don Siegelman Re-Sentenced on Bribery, Conspiracy, Fraud and Obstruction of Justice Charges
- Chicago Police Officer and Three Members of the Almighty Latin Kings Nation Plead Guilty to a Racketeering Conspiracy and Other Related Charges
- Miami Home Health Care Agency Owner Pleads Guilty in $42 Million Medicare Fraud Scheme
- Anti-Corruption Portal of the Americas
- City of London Police
- GRECO
- Organization for Economic Co-operation and Development
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- U.S. Department of Justice FCPA Page
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