Kendall Law Group, led by a former federal judge and a former U.S. Attorney continues its investigation regarding Innospec Inc. (NasdaqGS: IOSP) for shareholders. The national securities firm’s investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection with the recent guilty plea made by the company. Concerned shareholders should contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On March 18, 2010, Innospec entered into a $40.2 million global settlement with the Department of Justice, the Securities and Exchange Commission, the Office of Foreign Assets Control and the United Kingdom’s Serious Fraud Office. Innospec pled guilty to violating the Foreign Corrupt Practices Act, defrauding the United Nations and violating the United States trade embargo against Cuba. Innospec also settled a civil complaint filed by the SEC, alleging that “Innospec’s former management did nothing to stop the bribery, and in fact authorized and encouraged it.” Additionally, Innospec disclosed an excess of $35 million in legal and professional costs related to the violations and an accrual of $3.9 million spent in the first quarter of 2010 in “respect of probable future compliance monitor expenses.”
Kendall Law Group was founded by a former federal judge and U.S. Attorney and has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise the power to protect their investments 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.