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Friday Roundup

Roundup

Quotable, no reliable way to measure, Microsoft explains, scrutiny alert, a direct selling license in China, and offensive use of the FCPA. It’s all here in the Friday roundup.

Quotable

Some think – or at least I’ve been told – that certain of my Foreign Corrupt Practices Act views are controversial or out of the “main stream” (whatever the “main stream” actually is or means). Yet, I am confident that much of what I write and talk about represents silent majority views.

Indeed, as I’ve commented before, one of the interesting things about writing about the FCPA and related issues on a daily basis is that often I just need to wait for a former FCPA enforcement official to say the same thing. 

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Friday Roundup

Roundup

Offensive use of the FCPA, a weekend homework assignment, already answered, scrutiny alert, and for the reading stack. It’s all here in the Friday roundup.

Offense Use of the FCPA

FCPA Ripples highlights, among other things, how the FCPA is increasingly being used offensively including in connection with battles for corporate control.

The latest example concerns Elliott Management Corporation’s efforts to unseat board members at Arconic Inc. The recent departure of Arconic’s CEO Klaus Kleinfeld for apparently threatening Elliott Management (an existing Arconic shareholder) was all over the news (see here for example) and this recent Elliott Management letter to Arconic shareholders assails the “poor judgment” of Arconic’s board including the following.

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Scrutiny Alerts and Updates

scrutiny alert

Late April or early May is when foreign issuers tend to file Form 20-F’s with the SEC and as highlighted in this post several foreign issuers from Brazil, Peru, the U.K. and South Korea disclosed Foreign Corrupt Practices Act scrutiny.

But first, Cognizant Technology Solutions appears to continue to “boil the ocean” in terms of pre-enforcement action professional fees and expenses and Misonix is hit with a civil lawsuit connected to its FCPA scrutiny.

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Government Of Bermuda Sues Lahey Clinic Inc, In U.S. Court, Alleging Various Bribery Related Offenses

lahey

Foreign Corrupt Practices Act enforcement by the DOJ/SEC generates much interest.

However, just as interesting (perhaps more interesting because there is actual judicial scrutiny) is civil litigation which touches upon FCPA issues. (This dynamic was discussed in FCPA Ripples).

A most interesting civil case to pass along as the Government of Bermuda recently filed this civil complaint against Lahey Clinic Inc., a non-profit academic medical center incorporated in Massachusetts, alleging various bribery related offenses.

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Louis Berger Sues Former Executive For Exposing It To FCPA Liability

blame

As highlighted in this prior post, in July 2015 Louis Berger International agreed to pay $17.1 million pursuant to a DOJ deferred prosecution agreement based on allegations that it violated the FCPA’s anti-bribery provisions in connection with projects in Indonesia, Vietnam, India and Kuwait.

At the same time, the DOJ announced a Foreign Corrupt Practices Act enforcement action against Richard Hirsch (a former executive at the company located in the Philippines, who at times oversaw the Company’s overseas operations in Indonesia and Vietnam) as well as a co-defendant – James McClung.

This “issues to consider” post noted that it was fair to pose the question of whether the conduct at issue was engaged in by rogue employees including Hirsch.

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