By Porter Wright on On Tuesday, May 10, 2011, a federal jury convicted Lindsey Manufacturing Company (a privately-held company), its President Keith Lindsey, its Vice President Steve Lee and an intermediary, Angela Aguilar in an FCPA case. The charges were based on payments to employees of the Comisión Federal de Electricidad ("CFE"), an electric utility company owned by the … Continue Reading
By Porter Wright on On May 2, 2011, a derivative complaint was filed against eleven members of the Board of Directors of Johnson & Johnson alleging breach of fiduciary duty, mismanagement and violations of the federal securities laws based on the company’s recent settlements with the Department of Justice and the Securities Exchange Commission regarding violations of the Foreign … Continue Reading
By Porter Wright on On Friday, March 18, 2011, FINRA issued Regulatory Notice 11-12 entitled "FINRA Reminds Firms of Their Obligations Under the Foreign Corrupt Practices Act" (available here). The Notice, which provides a brief review of the FCPA, discusses the application of the Act’s prohibitions to member firms. As stated in the Notice, the FCPA not only … Continue Reading
By Porter Wright on On Thursday, March 17, 2011, the Wall Street Journal published an interview (available here, log-in required) with Mark Mendelsohn, the former Deputy Chief of the Fraud Section at DOJ, whose responsibilities included enforcement of the Foreign Corrupt Practices Act ("FCPA"). Mr. Mendelsohn, who left DOJ in 2010 to join Paul Weiss, discussed the future of … Continue Reading
