Parallel DOJ and SEC Foreign Corrupt Practices Act enforcement actions against issuers based on the same core conduct are common. However, such actions are coordinated and announced on the same day.
In a highly unusual development, late yesterday the DOJ announced an FCPA action against Las Vegas based on the same core conduct at issue in the SEC’s April 2016 FCPA enforcement action against Las Vegas Sands. (See here and here prior posts).
Quite frankly, I can’t recall another instance of this happening.
But then again some strange things are happening in the final weeks and days of the Obama administration before existing DOJ officials exit. (See this Wall Street Journal article titled “Obama Administration Races To Finish Probes, Wring Payments From Firms” noting that in the past approximate week the U.S. has reached settlements worth approximately $20 billion).
Adding to the intrigue is that Sheldon Adelson (founder, chairman and chief executive officer of Las Vegas Sands) is a major Republican contributor.