The SEC said Thursday that medical device and equipment maker Stryker Corporation will pay $13.2 million to resolve FCPA violations.
Entries in Smith and Nephew (23)
At the beginning of this year, China's president Xi Jinping promised to fight both "tigers" and "flies" -- high-ranking and low-ranking corrupt officials -- in his crackdown on corruption. Since then, the anti-graft campaign has led to the conviction of Bo Xilai and to the front-page investigations of foreign companies in the pharmaceutical and oil and gas sectors, among others.
Minnesota-based Medtronic Inc. won a double declination following an FCPA probe that lasted more than five years. The medical device maker said it received word in June from the DOJ and SEC that they won't pursue enforcement actions.
Following a five-year investigation into the overseas marketing and sales practices of medical device makers, the DOJ and SEC won't bring any FCPA enforcement against one of the targeted companies, Zimmer Holdings Inc.
Medical device maker Zimmer Holdings, Inc. said in an SEC filing yesterday that it can't predict the outcome of DOJ and SEC investigations into its overseas sales practices.
So far in 2012, the SEC by its own count has brought only five enforcement actions.
Tom Fox with a great summary of the biggest FCPA stories from the first half of 2012.
U.K.-based medical device maker Smith & Nephew plc agreed to pay $22.2 million to settle Foreign Corrupt Practices Act offenses committed by its U.S. and German subsidiaries. The company admitted bribing government-employed doctors in Greece for more than a decade to win business.
The four Africa sting defendants who ended up in a mistrial are asking the judge to acquit them on the FCPA conspiracy count.
Johnson & Johnson will pay a $21.4 million penalty to resolve criminal FCPA charges with the DOJ and $48.6 million in disgorgement and prejudgment interest to settle the SEC’s civil charges.