Scrutiny alerts, when the dust settles, and beefing up. It’s all here in the Friday roundup.
Scrutiny Alerts
Uber
As highlighted in this prior post, Uber has been under FCPA scrutiny since mid-2017 and this prior post discussed how the company’s FCPA scrutiny is following a typical path. In connection with its pending initial public offering, Uber recently formally disclosed in this registration statement the following:
This previous post went in-depth into the approximate $232 million Fresenius FCPA enforcement action and this post continues the analysis by highlighting additional issues to consider.
Timeline
As highlighted in this prior post, Fresenius disclosed its FCPA scrutiny in August 2012. Thus from start to finish, its FCPA scrutiny lasted an unconscionable 6.5 years.
German healthcare firm Fresenius Medical Care AG (a company with American Depositary Receipt shares traded on the NYSE) has been under FCPA scrutiny since 2012 (no that is not a typo).
Today the DOJ and SEC announced (here and here) an approximate $232 million enforcement action ($84.7 million to the DOJ and $147 million to the SEC) against the company for alleged bribery schemes involving physicians and other healthcare personnel in Angola, Saudi Arabia, Morocco, Spain, Turkey, Gabon, Benin, Burkina Faso, Senegal, Ivory Coast, Niger, Cameroon China, Serbia, Bosnia, and Mexico.
While not specified in any of the resolution documents, the DOJ’s non-prosecution agreement and SEC’s administrative order make generic reference to the Angola and Saudi Arabia conduct involving ‘agents and employees utiliz[ing] the means and instrumentalities of U.S. interstate commerce, including the use of internet-based email accounts hosted by numerous service providers located in the United States.”
This post provides updates on long-standing FCPA scrutiny of the following companies: Fresenius, Noble Corp., Microsoft, Herbalife, Gartner, and TechnipFMC as well as an update from across the pond in the United Kingdom concerning GlaxoSmithKline and individuals associated with Rolls Royce.
Fresenius
German healthcare firm Fresenius Medical Care AG (a company with shares traded on the NYSE) has been under FCPA scrutiny since 2012 (no that is not a typo). The company recently disclosed:
Scrutiny alerts and updates, overstating, and for the reading stack. It’s all here in the Friday roundup.
Scrutiny Alerts and Updates
Fresenius
As highlighted in this previous post, German healthcare firm Fresenius Medical Care AG (a company with shares traded on the NYSE) has been under FCPA scrutiny since 2012 (no that is not a typo). As highlighted in this previous post, earlier this year the company disclosed:
