Monday, February 29, 2016

SEC News - FCPA Violations, Accounting Fraud, and Bribes

VimpelCom to Pay $795 Million in Global Settlement for FCPA Violations
A global settlement has been announced along with the U.S. Department of Justice and Dutch regulators that requires telecommunications provider VimpelCom Ltd. to pay more than $795 million to resolve its violations of the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan.

SEC Charges Biopesticide Company and Former Executive With Accounting Fraud
Biopesticide company Marrone Bio Innovations and a former executive have been charged with inflating financial results to meet projections it would double revenues in its first year as a public company. Marrone Bio agreed to pay a $1.75 million penalty to settle the SEC’s charges.

Deutsche Bank Analyst Issued Stock Rating Inconsistent With Personal View
A former Deutsche Bank research analyst has been charged with certifying a rating on a stock that was inconsistent with his personal view.

Tech Company Bribed Chinese Officials
A Massachusetts-based technology company and its Chinese subsidiaries agreed to pay more than $28 million to settle parallel civil and criminal actions involving violations of the Foreign Corrupt Practices Act (FCPA).

California Man Sold Investors Phony Stock to Pay Gambling Debts
An unregistered broker in Oceanside, Calif., has been charged with fraudulently selling purported stock in a medical device company and pocketing investors’ money.

The attorneys at Sallah Astarita & Cox include veteran securities litigators and former SEC Enforcement Attorneys. We have decades of experience in securities litigation matters, including the defense of enforcement actions. We represent investors, financial professionals and investment firms, nationwide. For more information call 212-509-6544 or send an email.

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