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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV