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Four Decades for Justice

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Litigation

FCPA and Anti‑Corruption

FCPA and Anti‑Corruption

Cravath has extensive experience advising U.S. and non‑U.S. clients with respect to their most complex litigation and investigation matters involving the Foreign Corrupt Practices Act (FCPA) and other anti‑corruption laws, and is equally well‑versed in all aspects of FCPA enforcement and compliance.

Cravath routinely assists companies in investigating potential violations of the FCPA around the world, including conducting global internal investigations and representing clients in criminal and civil investigations and enforcement actions before the FCPA units of the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S. Attorney’s Offices, SEC regional offices and foreign regulators. In addition, boards of directors, general counsels and senior executives turn to Cravath for guidance on anti‑corruption compliance in structuring their companies’ compliance programs and remediating and mitigating the enforcement impact of FCPA violations. We also perform counterparty and transaction due diligence in M&A and other corporate transactions, including by evaluating an entity’s corruption risk profile, its compliance program and relevant internal controls—helping to prevent potential corruption-related problems before they arise and to minimize potential exposure. Our team additionally represents clients in securities, shareholder derivative, civil racketeering (RICO) and other private lawsuits that may accompany government anti‑corruption investigations.

We have served as corporate compliance monitors, defended and advised clients who are subject to FCPA monitorships and have been counsel to corporate monitors. In 2017, the DOJ appointed Cravath partner John D. Buretta, former Principal Deputy Assistant Attorney General who oversaw the DOJ Criminal Division’s FCPA unit, to serve as compliance monitor regarding the worldwide operations of Takata Corporation, an auto safety component manufacturer. In what has been called “the largest, most complex consumer safety effort in U.S. history,” Mr. Buretta worked for over five years to enhance Takata’s safety and compliance programs, and accelerate the recall of defective airbags, which affected every major car manufacturer in the world.

In addition, in the last several years, Cravath concluded two of the most complex multiagency, multicountry FCPA matters on the public record. We represented Telia Company as lead U.S. counsel in a three‑and‑a‑half‑year investigation by the SEC, DOJ and Swedish and Dutch authorities into Telia’s compliance with anti‑corruption laws. Cravath also represented SBM Offshore in reaching a settlement with the DOJ in connection with Petrobras and other legacy bribery issues.

Cravath’s investigations partners include former senior DOJ prosecutors and SEC officials based in New York and Washington, D.C., who bring an insider’s perspective to FCPA investigations and enforcement proceedings and routinely handle company, board and individual representations. This strongly positions our team to collaborate with regulators to serve in monitorship roles and provides powerful insight into government agency operations.

Cravath routinely assists companies in investigating potential violations of the FCPA around the world, including conducting global internal investigations and representing clients in criminal and civil investigations and enforcement actions before the FCPA units of the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S. Attorney’s Offices, SEC regional offices and foreign regulators. In addition, boards of directors, general counsels and senior executives turn to Cravath for guidance on anti‑corruption compliance in structuring their companies’ compliance programs and remediating and mitigating the enforcement impact of FCPA violations. We also perform counterparty and transaction due diligence in M&A and other corporate transactions, including by evaluating an entity’s corruption risk profile, its compliance program and relevant internal controls—helping to prevent potential corruption-related problems before they arise and to minimize potential exposure. Our team additionally represents clients in securities, shareholder derivative, civil racketeering (RICO) and other private lawsuits that may accompany government anti‑corruption investigations.

We have served as corporate compliance monitors, defended and advised clients who are subject to FCPA monitorships and have been counsel to corporate monitors. In 2017, the DOJ appointed Cravath partner John D. Buretta, former Principal Deputy Assistant Attorney General who oversaw the DOJ Criminal Division’s FCPA unit, to serve as compliance monitor regarding the worldwide operations of Takata Corporation, an auto safety component manufacturer. In what has been called “the largest, most complex consumer safety effort in U.S. history,” Mr. Buretta worked for over five years to enhance Takata’s safety and compliance programs, and accelerate the recall of defective airbags, which affected every major car manufacturer in the world.

In addition, in the last several years, Cravath concluded two of the most complex multiagency, multicountry FCPA matters on the public record. We represented Telia Company as lead U.S. counsel in a three‑and‑a‑half‑year investigation by the SEC, DOJ and Swedish and Dutch authorities into Telia’s compliance with anti‑corruption laws. Cravath also represented SBM Offshore in reaching a settlement with the DOJ in connection with Petrobras and other legacy bribery issues.

Cravath’s investigations partners include former senior DOJ prosecutors and SEC officials based in New York and Washington, D.C., who bring an insider’s perspective to FCPA investigations and enforcement proceedings and routinely handle company, board and individual representations. This strongly positions our team to collaborate with regulators to serve in monitorship roles and provides powerful insight into government agency operations.

  • Deals & Cases
  • Recent News

Deals & Cases

November 29, 2017

SBM Offshore Reaches FCPA Settlement with U.S. Authorities in Connection with Petrobras and Other Legacy Bribery Issues

On November 29, 2017, Cravath client SBM Offshore N.V. (“SBM”), a Netherlands-based provider of floating production solutions to the offshore energy industry, reached a settlement with the U.S. Department of Justice relating to legacy bribery issues in Brazil, Equatorial Guinea, Angola and elsewhere. The settlement includes a deferred prosecution agreement for the parent company, no monitorship, a guilty plea by SBM’s U.S. subsidiary and a financial sanction of $238 million. SBM received a substantial reduction in penalty based on its cooperation and remediation.

Deals & Cases

September 25, 2017

Telia Company Reaches Global Settlement with U.S. and Dutch Authorities in Connection with International Corruption Investigation

Cravath Leads FCPA Resolution with DOJ and SEC; Coordinates with International Counsel Team to Conclude Investigations Worldwide

Deals & Cases

June 16, 2017

Qualcomm Directors and Officers Win Dismissal of Shareholder Derivative Suit Related to Purported FCPA Violations

On June 16, 2017, the Delaware Court of Chancery dismissed a stockholder derivative lawsuit brought against current and former directors and officers of Qualcomm Incorporated alleging, among other claims, that defendants breached their fiduciary duties by allegedly failing to prevent purported FCPA violations by the company. In granting the dismissal, Vice Chancellor Tamika R. Montgomery‑Reeves held that the complaint did not plead sufficient facts to infer that the individual defendants had acted in bad faith or that the directors faced a substantial likelihood of personal liability such that plaintiffs’ failure to make a demand on the board to bring a suit was excused.

Deals & Cases

March 23, 2016

Novartis AG Settles SEC FCPA Investigation into Use of Chinese Travel Agencies

On March 23, 2016, the SEC announced a settlement with Cravath client Novartis AG that ended an investigation concerning Novartis’s use of travel agencies in China. Pursuant to the settlement, Novartis agreed to pay $25 million to settle claims that it had violated the FCPA’s internal controls and books and records provisions, without admitting or denying the charges.

Deals & Cases

December 17, 2014

Avon Settles DOJ and SEC FCPA Investigations

On December 17, 2014, Cravath client Avon Products, Inc. entered into a settlement with the U.S. Department of Justice and the Securities and Exchange Commission to resolve investigations of alleged FCPA violations involving Avon’s Chinese subsidiary. Cravath negotiated a deferred prosecution agreement on behalf of Avon Products and a guilty plea for Avon China, both of which related to the accounting provisions of the FCPA.

Activities & Publications

August 02, 2023

Ben Gruenstein Speaks at UN Global Compact Event on 10 Years of Brazil’s Corporate Anti‑Corruption Law

On August 1, 2023, Cravath partner Benjamin Gruenstein participated in “10 Years of the Corporate Anti‑Corruption Law,” an event co‑hosted by the United Nations Global Compact and Bazilian‑based law firm TozziniFreire Advogados in São Paulo, Brazil. Ben spoke on a panel entitled “The Evolution of the Corporate Anti‑Corruption Law in the International Scenario” about the development of Brazil’s Anti‑Corruption Law in the context of the United States’ enforcement of the Foreign Corrupt Practices Act.

Accolades

January 09, 2023

GIR Names Cravath Among 2022 Leading Firms for Cross‑Border Investigations

On December 16, 2022, Global Investigations Review (“GIR”) published a profile of Cravath’s investigations practice in connection with the Firm’s inclusion in the “GIR 100”, a global guide to the world’s leading cross‑border investigations practices. The profile highlights the Firm’s experience with cross‑border cases, including recent representation of multi‑national pharmaceutical company Novartis and Swedish telecoms company Telia. GIR described Cravath partners Rachel G. Skaistis, John D. Buretta, Benjamin Gruenstein, David M. Stuart and Evan Norris as “top‑tier lawyers” in the space and noted the success of partners John W. White, Evan R. Chesler and Peter T. Barbur on client matters including FCPA, SEC and criminal investigations.

Activities & Publications

December 02, 2022

John Buretta Speaks at ACI’s 39th International Conference on the FCPA

On November 30, 2022, Cravath partner John D. Buretta participated in the 39th annual International Conference on the Foreign Corrupt Practices Act, which was hosted by the American Conference Institute in Washington, D.C. from November 29 – December 1, 2022. John spoke on a panel entitled “Easing the Newest Concerns of the Board: What Needs to Be Addressed Moving Forward,” which examined effective board engagement on compliance matters and evolving liability risks for board members under the Caremark standard.

Activities & Publications

April 11, 2022

Ben Gruenstein Speaks at Sixth Annual GIR Live DC Spring Conference

On April 7, 2022, Cravath partner Benjamin Gruenstein participated in the sixth annual Global Investigations Review Live DC Spring Conference. Ben spoke on a panel entitled “Cross-Border Issues – A Focus on China,” which discussed the Foreign Corrupt Practices Act (“FCPA”), export controls and compliance issues arising in China, and the potential impact of the U.S. Department of Justice’s decision to end the “China initiative.”

Accolades

February 25, 2022

Law360 Names Cravath a 2021 “Compliance Practice Group of the Year”

On February 22, 2022, Cravath was featured by Law360 as a “Compliance Practice Group of the Year.” The Firm was recognized for its experience with cross‑border cases, including recent representation of Swedish telecom company Telia and the global Department of Justice monitorship of Japanese auto parts company Takata Corporation and Department of Transportation monitorship of Takata and 19 affected automakers.

Deals & Cases

November 29, 2017

SBM Offshore Reaches FCPA Settlement with U.S. Authorities in Connection with Petrobras and Other Legacy Bribery Issues

On November 29, 2017, Cravath client SBM Offshore N.V. (“SBM”), a Netherlands-based provider of floating production solutions to the offshore energy industry, reached a settlement with the U.S. Department of Justice relating to legacy bribery issues in Brazil, Equatorial Guinea, Angola and elsewhere. The settlement includes a deferred prosecution agreement for the parent company, no monitorship, a guilty plea by SBM’s U.S. subsidiary and a financial sanction of $238 million. SBM received a substantial reduction in penalty based on its cooperation and remediation.

Deals & Cases

September 25, 2017

Telia Company Reaches Global Settlement with U.S. and Dutch Authorities in Connection with International Corruption Investigation

Cravath Leads FCPA Resolution with DOJ and SEC; Coordinates with International Counsel Team to Conclude Investigations Worldwide

Deals & Cases

June 16, 2017

Qualcomm Directors and Officers Win Dismissal of Shareholder Derivative Suit Related to Purported FCPA Violations

On June 16, 2017, the Delaware Court of Chancery dismissed a stockholder derivative lawsuit brought against current and former directors and officers of Qualcomm Incorporated alleging, among other claims, that defendants breached their fiduciary duties by allegedly failing to prevent purported FCPA violations by the company. In granting the dismissal, Vice Chancellor Tamika R. Montgomery‑Reeves held that the complaint did not plead sufficient facts to infer that the individual defendants had acted in bad faith or that the directors faced a substantial likelihood of personal liability such that plaintiffs’ failure to make a demand on the board to bring a suit was excused.

Deals & Cases

March 23, 2016

Novartis AG Settles SEC FCPA Investigation into Use of Chinese Travel Agencies

On March 23, 2016, the SEC announced a settlement with Cravath client Novartis AG that ended an investigation concerning Novartis’s use of travel agencies in China. Pursuant to the settlement, Novartis agreed to pay $25 million to settle claims that it had violated the FCPA’s internal controls and books and records provisions, without admitting or denying the charges.

Deals & Cases

December 17, 2014

Avon Settles DOJ and SEC FCPA Investigations

On December 17, 2014, Cravath client Avon Products, Inc. entered into a settlement with the U.S. Department of Justice and the Securities and Exchange Commission to resolve investigations of alleged FCPA violations involving Avon’s Chinese subsidiary. Cravath negotiated a deferred prosecution agreement on behalf of Avon Products and a guilty plea for Avon China, both of which related to the accounting provisions of the FCPA.

Activities & Publications

August 02, 2023

Ben Gruenstein Speaks at UN Global Compact Event on 10 Years of Brazil’s Corporate Anti‑Corruption Law

On August 1, 2023, Cravath partner Benjamin Gruenstein participated in “10 Years of the Corporate Anti‑Corruption Law,” an event co‑hosted by the United Nations Global Compact and Bazilian‑based law firm TozziniFreire Advogados in São Paulo, Brazil. Ben spoke on a panel entitled “The Evolution of the Corporate Anti‑Corruption Law in the International Scenario” about the development of Brazil’s Anti‑Corruption Law in the context of the United States’ enforcement of the Foreign Corrupt Practices Act.

Accolades

January 09, 2023

GIR Names Cravath Among 2022 Leading Firms for Cross‑Border Investigations

On December 16, 2022, Global Investigations Review (“GIR”) published a profile of Cravath’s investigations practice in connection with the Firm’s inclusion in the “GIR 100”, a global guide to the world’s leading cross‑border investigations practices. The profile highlights the Firm’s experience with cross‑border cases, including recent representation of multi‑national pharmaceutical company Novartis and Swedish telecoms company Telia. GIR described Cravath partners Rachel G. Skaistis, John D. Buretta, Benjamin Gruenstein, David M. Stuart and Evan Norris as “top‑tier lawyers” in the space and noted the success of partners John W. White, Evan R. Chesler and Peter T. Barbur on client matters including FCPA, SEC and criminal investigations.

Activities & Publications

December 02, 2022

John Buretta Speaks at ACI’s 39th International Conference on the FCPA

On November 30, 2022, Cravath partner John D. Buretta participated in the 39th annual International Conference on the Foreign Corrupt Practices Act, which was hosted by the American Conference Institute in Washington, D.C. from November 29 – December 1, 2022. John spoke on a panel entitled “Easing the Newest Concerns of the Board: What Needs to Be Addressed Moving Forward,” which examined effective board engagement on compliance matters and evolving liability risks for board members under the Caremark standard.

Activities & Publications

April 11, 2022

Ben Gruenstein Speaks at Sixth Annual GIR Live DC Spring Conference

On April 7, 2022, Cravath partner Benjamin Gruenstein participated in the sixth annual Global Investigations Review Live DC Spring Conference. Ben spoke on a panel entitled “Cross-Border Issues – A Focus on China,” which discussed the Foreign Corrupt Practices Act (“FCPA”), export controls and compliance issues arising in China, and the potential impact of the U.S. Department of Justice’s decision to end the “China initiative.”

Accolades

February 25, 2022

Law360 Names Cravath a 2021 “Compliance Practice Group of the Year”

On February 22, 2022, Cravath was featured by Law360 as a “Compliance Practice Group of the Year.” The Firm was recognized for its experience with cross‑border cases, including recent representation of Swedish telecom company Telia and the global Department of Justice monitorship of Japanese auto parts company Takata Corporation and Department of Transportation monitorship of Takata and 19 affected automakers.

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