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This Week On FCPA Professor

February 16, 2019

FCPA Professor has been described as “the Wall Street Journal concerning all things FCPA-related,” and “the most authoritative source for those seeking to understand and apply the FCPA.”

Set forth below are the topics discussed this week on FCPA Professor.

Recently Senator Amy Klobuchar entered the crowded Democratic field for President and this post highlights how she was a leading voice for FCPA reform in connection with the Senate’s 2010 FCPA hearing and aftermath.

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Cognizant Technology Solutions Resolves $25 Million SEC Enforcement Action In Connection With Various Licenses And Permits In India

February 15, 2019

This previous post highlighted the DOJ and SEC’s individual enforcement action against Gordon Coburn and Steven Schwartz (former executives of Cognizant Technology Solutions) in connection with a planning permit in India.

This post highlights the SEC’s enforcement action (as well as the DOJ’s so-called declination letter) against the company based on the same core conduct in which the company, without admitting or denying the SEC’s findings, agreed to pay approximately $25 million in disgorgement and prejudgement interest.

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Former Cognizant Technology Solutions Executives Criminally And Civilly Charged In Connection With Indian Planning Permit – Company Resolves $25 Million SEC Enforcement Action

February 15, 2019

In this 2016 post highlighting Cognizant Technology Solutions’s disclosure of Foreign Corrupt Practices Act scrutiny it was also noted that Gordon Coburn resigned from his position as President of Cognizant Technology Solutions. This follow-up post noted that the two disclosures were likely related.

Sure enough as today the DOJ announced that Coburn and Steven Schwartz (Executive Vice President, Chief Legal and Corporate Affairs Officer) were criminally charged with FCPA violations. If the defendants choose to put the DOJ/SEC to its burden of proof, disputed issues will likely focus on corrupt intent, obtain or retain business and the facilitating payments exception.

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Friday Roundup

February 15, 2019

Never mind that …, “foreign official” charges, scrutiny alert, ISO-37001 related, and ethics inquiry up north. It’s all here in the Friday roundup.

Never Mind That …

Never mind that Cobalt International – not once, but twice – beat back the government in connection with FCPA scrutiny in Angola (see prior posts here and here as well as this podcast).

Nevertheless, a federal court judge recently approved an approximate $175 million settlement of investor class action claims alleging various securities laws violations by Cobalt related to its FCPA scrutiny (see here). As to the plaintiffs’ lawyers, well they get 25% of that amount plus approximately $2 million in reimbursement of litigation expenses.

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Checking In On Seng’s Appeal

February 14, 2019

As highlighted in this prior post, in July 2017 (after a long trial) a federal jury convicted Ng Lap Seng of two counts of violating the FCPA, one count of paying bribes and gratuities, one count of money laundering and two counts of conspiracy “for his role in a scheme to bribe United Nations ambassadors to obtain support to build a conference center in Macau that would host, among other events, the annual United Nations Global South-South Development Expo.”

This prior post previewed Seng’s appeal and this prior post highlighted Seng’s opening brief. The FCPA issues on appeal concern the FCPA’s corrupt intent and obtain or retain business elements.

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