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The temperature may have officially reached the high 80s yesterday afternoon in Washington, D.C., but we bet it was significantly hotter in room 2167 of the Rayburn House Office Building. That’s where the SEC’s Chairman, Mary Schapiro, and its Inspector General, H. David Kotz, were in the hot seat to answer questions for the Congressional [...]
We’ve been meaning to write about this one for awhile now — ever since we spotted it in the 10-K that KBR (KBR) filed last month. As announced last month, KBR settled with both the Department of Justice and the SEC over KBR’s violations of the Foreign Corrupt Practices Act (FCPA) and agreed to pay [...]
What is the punishment for bribing Nigerian officials and violating the Foreign Corrupt Practices Act? Apparently it’s seven years in the pokey and a $10.8 million fine. Jack Stanley, the former chief executive of KBR Inc. (KBR), a former Halliburton (HAL) subsidiary, agreed yesterday to plead guilty to participating in a decade-long scheme to bribe [...]
Back in December, Wright Medical (WMGI), a company best known for replacing Jimmy Connors’ hip, disclosed that it had received a subpoena from the Department of Justice. The subpoena was seeking records dating back to January 1998 for “any consulting and professional service agreements with orthopaedic surgeons in connection with hip or knee joint replacement [...]
For the past two years, FedEx (FDX) has been dealing with (and routinely disclosing) a grand-jury subpoena from the Department of Justice related to a criminal investigation of anti-competitive behavior in the air-freight transportation industry. As Reuters reported at the time, the subpoena appeared to focus on air surcharge fees imposed after Sept. 11. But [...]
