The DOJ's 3 FCPA Strikes
The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( TheStreet) -- After years of unprecedented success enforcing the U.S. Foreign Corrupt Practices Act -- the law that prohibits companies and individuals from offering or giving bribes to win or retain business abroad -- the Department of Justice has hit a series of major stumbling blocks that has commentators questioning the very future of FCPA enforcement.
In December, Judge Howard Matz of the U.S. District for the Central District of California dismissed with prejudice the FCPA case against Lindsay Manufacturing and two of its executives on grounds of prosecutorial misconduct. The ruling overturned a jury's guilty verdict against the company, its CEO and CFO. Lindsey was the first company ever convicted at trial of violating the FCPA. In a sharply worded ruling, Judge Matz stated that "charges were filed against
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