Defendant Name: Wyeth LLC

Defendant Type: Subsidiary of Public Company

Document Reference: LR-22438

Document Details

Legal Case Name SEC v. Wyeth LLC
Document Name SEC Files Settled FCPA Charges Against Pfizer Inc. and Wyeth LLC
Document Date 08-Aug-2012
Document Format Civil Proceeding
Case Number 12-cv-01304
Federal District Court District of Columbia, District of Columbia
AAER 3399
Allegation Type Foreign Corrupt Practices Act
Document Summary On August 8, 2012, the SEC published a litigation release regarding this matter. According to the release: "Wyeth subsidiaries engaged in FCPA violations, primarily before, but also after, the company's acquisition by Pfizer in late 2009. For example, according to the SEC's complaint, starting at least in 2005, subsidiaries marketing Wyeth nutritional products in China, Indonesia, and Pakistan bribed government doctors to recommend their products to patients by making cash payments or in some cases providing BlackBerrys and cell phones or travel incentives. The complaint alleges that Wyeth's employees often used fictitious invoices to conceal the true nature of the payments." The SEC also announced that the company had consented to an entry of a final judgment against it in settlement of the SEC's charges.

Disgorgement & Penalty Information

Resolutions
Enjoinment
Various Undertakings
Monetary Penalties:

Disgorgement

Individual:     $17,217,831.00 Shared:    

Pre-Judgment Interest

Individual:     $1,658,793.00 Shared:    

Total Penalty

Individual:     $18,876,624.00 Shared:    

Related Documents:

comp-pr2012-152-wyeth 07-Aug-2012 Complaint
Complaint
On August 7, 2012, the SEC filed a complaint against Wyeth LLC. According to the complaint: "This action arises from violations of the books and records and internal controls provisions of the Foreign Corrupt Practices Act of 1977 ('the FCPA') by Defendant Wyeth LLC ('Wyeth'), while an issuer, relating to improper payments made to foreign officials in numerous countries by the employees and agents of Wyeth's subsidiaries in order to assist Wyeth in obtaining or retaining business. . . . At various times from at least 2005 through 2010, subsidiaries of Defendant Wyeth conducting business in several countries, including Indonesia, Pakistan, China, and Saudi Arabia, engaged in transactions for the purpose of improperly influencing foreign officials, including doctors and other healthcare professionals employed by foreign governments."
2012-152 07-Aug-2012 Press Release--Civil Action
SEC Charges Pfizer with FCPA Violations
On August 7, 2012, the SEC charged Wyeth LLC, a subsidiary of Pfizer Inc. for Foreign Corruption Practices Act violations. The Commission alleges that it carried out these violations primarily before but also its acquisition by Pfizer in 2009.
court_doc2_12-cv-01304 29-Aug-2012 Court Docket Document
Final Judgment as to Defendant Wyeth LLC
On August 29, 2012, Federal District Judge Amy Berman Jackson entered final judgment against Wyeth LLC pursuant to the consent of Wyeth LLC. The Order stated that "based on Wyeth's exemplary cooperation in a Commission investigation, the Court is not ordering Wyeth to pay a civil penalty."