Defendant Name: Parker Drilling Company

Defendant Type: Public Company
SIC Code: 1381
CUSIP: 70108110

Document Reference: comp22672

Document Details

Legal Case Name SEC v. Parker Drilling Company
Document Name Complaint
Document Date 16-Apr-2013
Document Format Civil Proceeding
Case Number 13-cv-00461
Federal District Court Virginia, Eastern District of Virginia
Allegation Type Foreign Corrupt Practices Act
Document Summary On April 16, 2013, The SEC filed a civil action against Park Drilling Company for FCPA violations. According to the SEC: "This matter involves violations of the Foreign Corrupt Practices Act ('FCPA') by Defendant Parker Drilling Company ('Parker Drilling' or the 'company'). In 2004, through its outside counsel, Parker Drilling retained a Nigerian agent to assist the company with customs disputes related to the importation of its drilling rigs into Nigeria. During the course of the agent's work, two Parker Drilling executives knowingly paid the agent large sums of money through its outside counsel for, among other things, the 'entertainment' of Nigerian foreign officials in an effort to obtain their influence in resolving custom disputes."

Related Documents:

LR-22672 16-Apr-2013 Litigation Release
SEC Charges Parker Drilling Company with Violating the Foreign Corrupt Practices Act
On April 16, 2013, the SEC issued a press release announcing it filed a settled civil action against Parker Drilling Company for "violating the Foreign Corrupt Practices Act (FCPA) by authorizing improper payments to a third party intermediary retained to assist the company in resolving customs disputes." According to the SEC, in order to settle the changes, the company "will pay disgorgement of $3,050,000 plus prejudgment interest of $1,040,818. Parker Drilling consented to the entry of a final judgment permanently enjoining it from violating Sections 30A, 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act. The proposed settlement is subject to court approval."
court_doc3_13-cv-00461 23-Apr-2013 Court Docket Document
Final Judgment as to Defendant Parker Drilling Company
On April 23, 2013, Federal District Judge Liam O'Grady entered final judgment against Parker Drilling Company pursuant to the consent of Parker Drilling Company.