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The Federal Common Law Of Successor Liability And The Foreign Corrupt Practices Act, Taylor J. Phillips
The Federal Common Law Of Successor Liability And The Foreign Corrupt Practices Act, Taylor J. Phillips
William & Mary Business Law Review
In recent years, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have vigorously enforced the Foreign Corrupt Practices Act (FCPA). The FCPA prohibits bribery of foreign government officials, and the statute provides for significant civil and criminal sanctions. Settling and remediating violations can cost corporate defendants millions, with several corporate enforcement actions exceeding $100 million in sanctions. Moreover, enforcement actions related to the FCPA often are not brought until many years after the alleged violations.
Because the massive potential liabilities associated with an FCPA violation may not manifest themselves until years after the violation occurred, prospective …