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Bernstein Liebhard LLP is investigating whether wrongdoing occurred at Las Vegas Sands Corporation (“Sands” or the “Company”) (NYSE: LVS).
In its annual report issued on March 1, 2011, Sands revealed that it is currently under investigation by the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) for possible violations of the Foreign Corrupt Practices Act (“FCPA”). The FCPA generally prohibits U.S. companies and their intermediaries from making improper payments to foreign officials for the purpose of obtaining or retaining business. In its most recent annual report, Sands reported that it received a subpoena from the SEC requesting that the Company produce documents related to its compliance with the FCPA. The Company also disclosed that the DOJ was conducting a similar investigation. Sands shares fell approximately 6% on news of the investigation.