This Week On FCPA Professor
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.
Given the announcement that the PGA Tour, LIV Golf (Saudi Arabian Public Investment Fund) and the DP World Tour have signed an agreement to combine, will there be “foreign officials” in golf? (See here).
This Week On FCPA Professor
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.
As discussed here, Gartner Inc. (a technological research and consulting company) resolved a $2.5 million FCPA enforcement action concerning conduct in South Africa. This post highlights additional issues to consider from the enforcement action.
This Week On FCPA Professor
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.
This post counters certain FCPA narratives.
FCPA Related Securities Fraud Action Against Ericsson Dismissed
This prior post covered the 2019 Foreign Corrupt Practices Act enforcement action against Ericsson. The enforcement action concerned conduct in Djibouti, China, Vietnam, Kuwait, Indonesia, and Saudi Arabia and included a DOJ and SEC component. The DOJ matter involved a one count criminal information against Ericsson subsidiary Ericsson Egypt Ltd. charging conspiracy to violate the FCPA’s anti-bribery provisions resolved through a plea agreement and a criminal information against Ericsson charging conspiracies to violate the FCPA’s anti-bribery, books and records, and internal controls provisions resolved through a deferred prosecution agreement. The DOJ matter was resolved through payment of a $520 million criminal penalty.
As highlighted in this prior post, in 2021 the DOJ suggested that Ericsson was in breach of its DPA obligations and in March 2023 the DOJ announced that “Ericsson has agreed to plead guilty and pay a criminal penalty of more than $206 million after breaching a 2019 Deferred Prosecution Agreement (DPA).” (See here for the prior post).
In between, reports suggested that “Ericsson may have made payments to the ISIS terror organization to gain access to certain transport routes in Iraq.” (See here for the prior post).
As sure as the sun rises in the east and dogs bark, investors brought a securities fraud class action in related to the above events.
Recently, Judge William Kuntz (E.D.N.Y.) dismissed the complaint.
Ouch – DOJ Gets Bench Slapped By The Supreme Court Twice In The Same Day
A post of this nature has appeared on these pages approximately fifteen times.
Even though the current Supreme Court is often ideologically divided, the Court has shown remarkable consistency in recent years in rejecting (often times unanimously) overly expansive interpretations of a criminal statute by the Department of Justice.
Recently, there were two additional instances on the same day: Ciminelli v. United States and Percoco v. United States.