Defendant Name: Teva Pharmaceutical Industries Limited

Defendant Type: Public Company
SIC Code: 2834
CUSIP: 88162420

Initial Case Details

Legal Case Name SEC v. Teva Pharmaceutical Industries Ltd.
First Document Date 22-Dec-2016
Initial Filing Format Civil Proceeding
Case Number 16-cv-25298
Allegation Type Foreign Corrupt Practices Act
Federal District Court Florida, Southern District of Florida

Violations Alleged

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

Resolutions

First Resolution Date 22-Dec-2016

Related Documents:

2016-277 22-Dec-2016 Press Release--Civil Action
Teva Pharmaceutical Paying $519 Million to Settle FCPA Charges
On December 22, 2016, the SEC announced in a press release that Teva Pharmaceutical Industries Limited has agreed to settle parallel civil and criminal charged in relation to its violations of the FCPA. According to the SEC: "Teva failed to devise and maintain proper internal accounting controls to prevent the company's payments of bribes to win business in certain regions around the globe."
LR-23708 22-Dec-2016 Litigation Release
SEC Charges Israel-Based Pharmaceutical Company with FCPA Violations
On December 22, 2016, the SEC announced in a litigation release that Teva has agreed to settle parallel civil and criminal charges in relation to its violations of the FCPA. According to the SEC: "Teva made more than $214 million in illicit profits by making the influential payments to increase its market share and obtain regulatory and formulary approvals as well as favorable drug purchase and prescription decisions."
comp_pr2016-277 22-Dec-2016 Complaint
Complaint
According to the SEC "From at least October 2010 through at least December 2012, Teva paid bribes to a government official in Russia. From at least May 2002 through March 2011, Teva paid bribes to a government official in Ukraine. In 2011 and 2012, a Teva subsidiary in Mexico also paid bribes to government officials in Mexico. These illegal payments were made to influence regulatory and formulary approvals, drug purchase decisions, prescription decisions, and to increase Teva's market share and develop competitive advantages over competitors. Teva realized more than $214,596,170 in profits from business obtained through the use of illegal payments. "
court_doc5_16-cv-25298 29-Dec-2016 Court Docket Document
Final Judgment as to Defendant Teva Pharmaceutical Industries Ltd.
The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Teva Pharmaceutical Industries Ltd. ("Defendant') having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment; waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."