The national securities law firm of Goldfarb Branham is investigating Innospec (NASDAQ: IOSP) for investors in connection with Innospec’s $40.2 million fine for bribery and other violations of law. Concerned stockholders are urged to contact attorney Hamilton Lindley at 877-583-2855 or by email at firstname.lastname@example.org for more details.
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 Foreign Corrupt Practices Act (“FCPA”). Earlier this year, 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 FCPA Unit, said Innospec had a “long-standing practice” of bribing foreign government officials and that company management “authorized and condoned the misconduct.”
Goldfarb Branham is investigating a derivative lawsuit against company executives for allowing this bribery scheme to occur. Derivative lawsuits often lead to restored confidence in companies involved in scandals and increased shareholder value. Contact attorney Hamilton Lindley at 877-583-2855 or
email@example.com for more details if you are a shareholder of Innospec. Lawyers at Goldfarb Branham have significant experience litigating derivative cases and other shareholder lawsuits nationwide.