Defendant Name:
Parker Drilling Company
Defendant Type:
Public Company
Document Reference:
LR-22672
Document Details
Legal Case Name
SEC v. Parker Drilling Company
Document Name
SEC Charges Parker Drilling Company with Violating the Foreign Corrupt Practices Act
Document Date
16-Apr-2013
Document Format
Civil Proceeding
Case Number
13-cv-00461
Federal District Court
Virginia, Eastern District of Virginia
AAER
3454
Allegation Type
Foreign Corrupt Practices Act
Document Summary
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."
Disgorgement & Penalty Information