Defendant Name: KBR, Inc.

Defendant Type: Public Company
SIC Code: 1629
CUSIP: 48242W10

Document Reference: 34-74619

Document Details

Legal Case Name In the Matter of KBR, Inc.
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 01-Apr-2015
Document Format Administrative Proceeding
File Number 3-16466
Allegation Type Other
Document Summary On April 1, 2015, the SEC instituted settled administrative proceedings against KBR, Inc. According to the SEC: "[T]he language found in [KBR's] form confidentiality statement impedes such communications by prohibiting employees from discussing the substance of their interview [pertaining to possible securities laws violations] without clearance from KBR's law department under penalty of disciplinary action including termination of employment. This language undermines the purpose of Section 21F and Rule 21F-17(a), which is to "encourage[e] individuals to report to the Commission."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Various undertakings
Monetary Penalties:

Civil Penalty

Individual:     $130,000.00 Shared:    

Related Documents:

2015-54 01-Apr-2015 Press Release--Administrative Proceeding
SEC: Companies Cannot Stifle Whistleblowers in Confidentiality Agreements
On April 1, 2015 the SEC announced that it charged KBR, Inc. "with violating whistleblower protection Rule 21F-17 enacted under the Dodd-Frank Act." This action is the first against a company for using improperly restrictive language in confidentiality agreements with the potential to stifle the whistleblowing process.