Defendant Name: Technip

Defendant Type: Public Company
SIC Code: 1389
CUSIP: 87854620

Initial Case Details

Legal Case Name SEC v. Technip
First Document Date 28-Jun-2010
Initial Filing Format Civil Proceeding
Case Number 10-cv-02289
Allegation Type Foreign Corrupt Practices Act
Federal District Court Texas, Southern District of Texas

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 30A

Resolutions

First Resolution Date 28-Jun-2010

Related Documents:

comp-pr2010-110 28-Jun-2010 Complaint
Complaint
On June 28, 2010, the SEC filed a complaint against Technip. The SEC alleged that "senior executives at Technip, among others, devised and implemented a scheme to bribe Nigerian government officials to assist in obtaining multiple contracts worth over $6 billion to build liquefied natural gas production facilities on Bonny Island, Nigeria."
LR-21578 28-Jun-2010 Litigation Release
SEC Charges Technip with Foreign Bribery and Related Accounting Violations - Technip to Pay $98 Million in Disgorgement and Prejudgment Interest; Company Also to Pay a Criminal Penalty of $240 Million
On June 28, 2010, the SEC announced a settlement with Technip for multiple violations of the FCPA. The SEC alleges that Technip "was part of a four-company joint venture that bribed Nigerian government officials over a 10-year period in order to win construction contracts in Nigeria worth more than $6 billion. The SEC also charged that Technip engaged in books and records and internal controls violations related to the bribery."
2010-110 28-Jun-2010 Press Release--Civil Action
SEC Charges Technip with FCPA Violations; Technip to Pay $338 Million to Settle SEC and DOJ ChargesÍž Brings Total Sanctions Against Joint Venture Partners to $917 Million
On June 28, 2010, the SEC announced a settlement with Technip--a global engineering, construction and services company based in Paris, France--for multiple violations of the Foreign Corrupt Practices Act ("FCPA"). The SEC had alleged that Technip was part of a four-company joint venture that bribed Nigerian government officials over a 10-year period in order to win construction contracts worth more than $6 billion. The SEC also charged that Technip engaged in books and records and internal controls violations related to the bribery. Without admitting or denying the SEC's allegations, Technip has consented to the entry of a court order permanently enjoining it from violating the federal securities laws and ordering Technip to disgorge $98 million in ill-gotten profits derived from the scheme and prejudgment interest. The proposed settlement remains subject to court approval. In a related criminal proceeding, the U.S. Department of Justice ("DOJ") filed a criminal action against Technip, charging one count of conspiring to violate the FCPA and one count of violating the anti-bribery provisions of the FCPA. Technip has entered into a deferred prosecution agreement with the DOJ and agreed to pay a criminal penalty of $240 million.
court_doc6_10-cv-02289 09-Jul-2010 Court Docket Document
Final Judgment as to Defendant Technic
On July 9, 2010, Federal District Judge David Hittner entered final judgment against Technip pursuant to the consent of Technip.

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