Kendall Law Group, a national securities firm, is investigating Innospec (NASDAQ: IOSP) for shareholders in connection with Innospec’s $40.2 million fine for bribery and other violations of law. In a recent filing with the SEC, Innospec disclosed legal costs related to its guilty plea to be more than $35 million. The company also “accrued $3.9 million in the first quarter of 2010” for compliance monitors in connection with its violations of the Federal Corrupt Practices Act. Concerned Innospec shareholders or anyone with information about these actions should contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On March 18, 2010, Innospec pled guilty to bribing Iraqi and Indonesian officials, violating the FCPA and agreed to pay a $40.2 million fine to the governments of both the United States and the United Kingdom. Cheryl Scarboro, who heads the SEC’s Foreign Corrupt Practices Act Unit, said Innospec had a “long-standing practice” of bribing foreign government officials and that company management “authorized and condoned the misconduct.”
Kendall Law Group, a securities firm led by a former federal judge and U.S. Attorney, has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm gives shareholders power when companies break the law. If you are an Innospec shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights and protect your investment.