A Rare Peek Into FCPA Settlement Amount Negotiations
A typical Foreign Corrupt Practices Act enforcement action resolution vehicle is negotiated between the company and the DOJ/SEC.
Conduct at issue and how it is framed, charges, settlement amount, post-enforcement action obligations can all be the subject of negotiation.
Rarely though is the back and forth of negotiations – including as to settlement amount – in the public domain.
This recent post discussed how Clear Channel generally prevailed in an FCPA-related insurance coverage dispute.
The judicial decision by a Delaware Superior Court judge also highlights the back and forth negotiations between Clear Channel and the SEC ultimately resulting in the September 2023 $26.1 million enforcement action (disgorgement of $16,355,567, prejudgment interest of $3,760,920, and a civil monetary penalty in the amount of $6,000,000).