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FCPA Blog Daily News

« Yoga Guru v. Graft | Main | Clinton: We Support Reform In Nigeria »
Tuesday
Aug142012

Double Declination For Hercules Offshore

Houston-based Hercules Offshore, Inc., an oil and gas services contractor that provides drilling, barge and boat services, said in an SEC filing last week that following investigations, both the SEC and DOJ will take no enforcement action for possible FCPA violations.

                      *     *     *

Here's the company's full FCPA disclosure from its Form 8-K filed on August 7 (the same day it heard from the SEC):

On August 7, 2012, Hercules Offshore, Inc. (the “Company”) received a letter from the Securities and Exchange Commission (“SEC”) notifying the Company that the SEC staff has completed its investigation into the Company regarding possible violations of the Foreign Corrupt Practices Act (“FCPA”) and does not intend to pursue enforcement action against the Company. As previously disclosed, the Company was notified by the SEC and the Department of Justice (“DOJ”) in April 2011, that certain of the Company’s activities were under review by the SEC and DOJ with respect to possible violations of the FCPA in certain international jurisdictions where the Company conducts operations.

The Company previously disclosed that it received a letter from the DOJ on April 24, 2012, notifying the Company that the DOJ has closed its inquiry into the Company regarding possible violations of the FCPA and does not intend to pursue enforcement action against the Company. The DOJ noted that it terminated its investigation “…based on a number of factors, including, but not limited to, the thorough investigation undertaken by Hercules and the steps that Hercules has taken in the past and continues to take to enhance its compliance program, including efforts to ensure compliance with the FCPA.”

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Research courtesy of ethiXbase, the world's largest database of anti-corruption legislation, gift-giving regulations, investigations, and enforcement actions.

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