Defendant Name:
Pride International, Inc.
Defendant Type:
Public Company
Document Reference:
2010-214-Pride International
Document Details
Legal Case Name
SEC v. Pride International, Inc.
Document Name
SEC Charges Seven Oil Services and Freight Forwarding Companies for Widespread Bribery of Customs Officials
Document Date
04-Nov-2010
Document Format
Civil Proceeding
Case Number
10-cv-04335
Federal District Judge
Berman
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On November 4, 2010, the SEC announced it had settled with Panalpina, Inc., a global freight forwarding company, and six other companies in the oil services industries that it charged with violating the Foreign Corrupt Practices Act by paying bribes to foreign customs agents. Specifically, the SEC charged that Pride International, Inc. had paid approximately $2 million to foreign officials in eight countries from 2001 to 2006 in exchange for various benefits.
Disgorgement & Penalty Information
Monetary Penalties:
Disgorgement
(Penalty was noted in document, but no amount was listed)
Pre-Judgment Interest
(Penalty was noted in document, but no amount was listed)
Disgorgement and prejudgment interest
Individual:
$23,529,718.00
Shared:
Total Penalty
Individual:
$23,529,718.00
Shared:
