Defendant Name:
Pfizer Inc.
Defendant Type:
Public Company
SIC Code:
2834
CUSIP:
71708110
Document Reference:
comp-pr2012-152-pfizer
Document Details
Legal Case Name
SEC v. Pfizer Inc.
Document Name
Complaint
Document Date
07-Aug-2012
Document Format
Civil Proceeding
Case Number
12-cv-01303
Federal District Court
District of Columbia, District of Columbia
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On August 7, 2012, the SEC filed a complaint against Pfizer Inc. ("Pfizer") alleging violations of the Foreign Corrupt Practices Act relating to improper payments made to foreign officials in numerous countries by the employees and agents of Pfizer's subsidiaries in order to assist Pfizer in obtaining or retaining business. At various times from at least 2001 through 2007, employees and agents of Pfizer's subsidiaries, conducting business in Bulgaria, China, Croatia, Czech Republic, Italy, Kazakhstan, Russia, and Serbia, engaged in transactions for the purpose of improperly influencing foreign officials, including doctors and other healthcare professionals employed by foreign governments. Employees attempted to conceal the true nature of the transactions by improperly recording the transactions on the books and records of the respective subsidiaries. These improper payments were made without the knowledge or approval of officers or employees of Pfizer, but the inaccurate books and records of Pfizer's subsidiaries were consolidated in the financial reports of Pfizer.
