Enforcement Archive

Jul 27, 2020
How Covid-19 employment litigation is taking shape
The Covid-19 pandemic has spawned a wave of employment litigation directly and indirectly based on related health risks and employers’ response to the crisis. This column provides our initial impressions from our data collection and analysis of those cases, and our thoughts on how companies can try to limit their potential liabilities. TYPES OF LAWSUITS In both state and federal courts, employees have advanced a wide variety of claims in res...
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Jul 08, 2020
Alexion settles FCPA action for $21 million
Boston-based Alexion Pharmaceuticals has agreed to pay a total of more than $21 million to settle SEC allegations that it violated the FCPA via subsidiaries in Turkey and Russia. Specifically, the SEC says in its related administrative order that between 2010 and 2015 Alexion’s subsidiary in Turkey made payments to foreign officials so as to influence them to provide favorable regulatory treatmen...
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May 22, 2020
The week in GRC: Lockdowns may slow government probes of companies, and shareholders re-elect BlackRock board
– According to CNN, SoftBank announced that Alibaba founder Jack Ma had decided to resign from its board. Ma, who is still a director of the Chinese e-commerce company, had held the seat for nearly 13 years. He is the latest noteworthy board member to leave, after billionaire and Fast Retailing founder Tadashi Yanai’s departure at the end of last year. Ma’s departure comes ...
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May 13, 2020
BIOMIN America settles Cuba sanctions case
Overland Park, Kansas-based BIOMIN America has paid $257,862 to settle its potential civil liability for ‘apparent violations’ of US sanctions against Cuba. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC), which brought the action, says it ‘demonstrates the importance of US companies with a global presence maintaining appropriate sanctions compliance programs, particularly when dealing with foreign subsidiaries and affiliates.’...
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Apr 29, 2020
General counsel urged to check insider trading policies during pandemic
General counsel should be taking steps to ensure their company is geared up to prevent insider trading that may arise from pandemic-related information – particularly given the government’s recent use of a statute that makes prosecuting certain cases easier, according to Robert Frenchman, partner with litigation firm Mukasey Frenchman & Sklaroff. The SEC’s top enforcers last month ...
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Mar 25, 2020
SEC enforcers warn directors about insider trading amid Covid-19
The SEC’s top enforcers have warned directors and executives against taking advantage of developments arising from the Covid-19 pandemic to engage in insider trading. Stephanie Avakian and Steven Peikin, co-directors of the SEC’s division of enforcement, in a statement on Monday emphasized the need to follow corporate controls and procedures during this period. ‘[I]n these dynamic circumstances, corporate insiders are regularly learning new material non...
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Mar 03, 2020
Cardinal Health resolves China-linked FCPA action
Dublin, Ohio-based Cardinal Health has agreed to pay more than $8 million to resolve allegations that it violated FCPA books and records and internal accounting controls provisions in relation to its former unit in China. ‘Cardinal’s foreign subsidiary hired thousands of employees and maintained financial accounts on behalf of a supplier without implementing anti-bribery controls surrounding these high-risk business practices,’ Anita Bandy, an associate direct...
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Feb 20, 2020
Diageo fined $5 million over alleged disclosure lapses
Alcohol company Diageo has agreed to pay a $5 million penalty to settle allegations that it failed to make necessary disclosures following efforts by its North American subsidiary to counteract weak market conditions. Diageo, which is listed on both the NYSE and London Stock Exchange, owns brands including Johnnie Walker, Crown Royal, J&B, Buchanan’s and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and ...
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