Defendant Name:
Moog Inc.
Defendant Type:
Public Company
SIC Code:
3812
CUSIP:
61539430
Document Reference:
34-101307
Document Details
Legal Case Name
In the Matter of Moog 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
11-Oct-2024
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On October 11, 2024, the SEC instituted cease-and-desist proceedings against Moog Inc., stating: "This matter concerns violations of the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 (“FCPA”) by Moog Inc., a global provider of technology used in the aerospace and defense markets, through its wholly owned Indian subsidiary, Moog Motion Controls Private Limited (“MMCPL”). Between 2020 and 2022, employees of the subsidiary bribed a variety of Indian foreign officials to win business. These same employees also offered bribes to Indian foreign officials in an attempt to cause public tenders in India to favor Moog’s products and exclude competitors."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$504,926.00
Shared:
Civil Penalty
Individual:
$1,100,000.00
Shared:
Pre-Judgment Interest
Individual:
$78,889.00
Shared:
Total Penalty
Individual:
$1,683,815.00
Shared:
