Defendant Name:
Layne Christensen Company
Defendant Type:
Public Company
SIC Code:
1780
CUSIP:
52105010
Document Reference:
34-73437
Document Details
Legal Case Name
In the Matter of Layne Christensen Company
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
27-Oct-2014
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On October 27, 2014, the SEC instituted settled administrative proceedings against Layne Christensen Company. According to the SEC, "These proceedings arise out of violations of the anti-bribery, recordkeeping, and internal controls provisions of the Foreign Corrupt Practices Act (the "FCPA") by Layne Christensen." The SEC alleges that between 2005 and 2010, Christensen paid more than $1,000,000 to foreign government officials in Mali, Guinea, Burkina Faso, Tanzania, and the Democratic Republic of Congo, falsely recording this payment as legitimate expenses.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Disgorgement
Individual:
$3,893,472.42
Shared:
Civil Penalty
Individual:
$375,000.00
Shared:
Pre-Judgment Interest
Individual:
$858,720.68
Shared:
