Defendant Name: Snamprogetti Netherlands, B.V.

Defendant Type: Subsidiary of Public Company
Public Company Parent: ENI, S.p.A.
SIC Code: 2911
CUSIP: 26874R10

Document Reference: comp-pr2010-119

Document Details

Legal Case Name SEC v. ENI, S.p.A. and Snamprogetti Netherlands B.V.
Document Name Complaint
Document Date 07-Jul-2010
Document Format Civil Proceeding
Case Number 10-cv-02414
Federal District Court Texas, Southern District of Texas
Allegation Type Foreign Corrupt Practices Act
Document Summary On July 7, 2010, the SEC filed a complaint against ENI, S.p.A. and Snamprogetti Netherlands B.V. for multiple FCPA violations. The SEC alleged that between 1995 and 2004, ENI and subsidiary Snamprogetti bribed Nigerian officials to assist in obtaining contracts worth over $6 billion. The SEC alleged that ENI violated Sections 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act.

Related Documents:

LR-21588 07-Jul-2010 Litigation Release
Litigation Release
On July 7, 2010, the SEC issued a litigation release announcing it filed a settled complaint against ENI, S.p.A. and its former Dutch subsidiary Sanmprogetti Netherlands B.V. The SEC alleged: "multiple violations of the Foreign Corrupt Practices Act (FCPA) in a bribery scheme that included deliveries of cash-filled briefcases and vehicles to Nigerian government officials to win construction contracts."
2010-119 07-Jul-2010 Press Release--Civil Action
SEC Charges Italian Company and Dutch Subsidiary in Scheme Bribing Nigerian Officials With Carloads of Cash; ENI and Snamprogetti to Pay $365 Million to Settle FCPA Violations
On July 7, 2010,the SEC announced that it charged Italian company ENI, S.p.A. ("ENI") and its former Dutch subsidiary Snamprogetti Netherlands B.V. ("Snamprogetti") with multiple violations of the Foreign Corrupt Practices Act ("FCPA") in a bribery scheme that included deliveries of cash-filled briefcases and vehicles to Nigerian government officials to win construction contracts. According to the complaint against ENI and Snamprogetti, filed in federal district court in Houston, the SEC alleges, among other things, that ENI failed to ensure that Snamprogetti complied with ENI's internal controls concerning the use of agents, and that the books and records of both companies were falsified as a result of the bribery scheme. Without admitting or denying the SEC's allegations, ENI has consented to the entry of a court order permanently enjoining it from violating the recordkeeping and internal controls provisions in Sections 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act, and Snamprogetti has consented to the entry of a court order permanently enjoining it from violating the anti-bribery and recordkeeping and internal controls provisions in Sections 30A and 13(b)(5) of the Securities Exchange Act of 1934 and Rule 13b2-1. Both companies also consented to the entry of court orders that require them, jointly and severally, to pay $125 million in disgorgement. The proposed settlements remain subject to court approval. Additionally, to settle separate criminal proceedings brought by the U.S. Department of Justice, Snamprogetti agreed to pay an additional $240 million penalty.
court_doc8_10-cv-02414 20-Jul-2010 Court Docket Document
Final Judgment as to Defendant Snamprogetti Netherlands, B.V.
On July 20, 2010, Federal District Judge Kenneth M. Hoyt entered final judgment against Snamprogetti Netherlands, B.V. pursuant to the consent of Snamprogetti Netherlands, B.V.

Other Defendants in Action:

ENI, S.p.A.

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