BAT’s Agreement with U.S. DOJ and OFAC

On April 25, 2023, Cravath client British American Tobacco p.l.c. (“BAT”) announced it has reached agreement with the U.S. Department of Justice (“DOJ”) and U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) to resolve previously disclosed investigations into suspicions of sanctions breaches.

BAT has entered into a deferred prosecution agreement with DOJ and a civil settlement agreement with OFAC, and an indirect BAT subsidiary in Singapore has entered into a plea agreement with DOJ. The total amount payable to the U.S. authorities is $635,241,338 plus interest. The DOJ resolutions acknowledged BAT’s remediation efforts.

The Cravath team included partners Evan Norris and Benjamin Gruenstein, of counsel Megan Y. Lew and associate Benjamin S. Spiegel.