By: Thad McBride
The Committee on Foreign Investment in the United States (CFIUS) has been sued. CFIUS is the U.S. government inter-agency committee that reviews foreign investment in the United States. (For more information about CFIUS, including its operations and recent actions, please look here.)
According to a filing in U.S. District Court for the District of Columbia, Ralls Corp is requesting a Temporary Restraining Order and Preliminary Injunction to enjoin CFIUS from prohibiting Ralls from developing and operating a wind farm in Oregon. Ralls is owned by executives of Sany Group Co., a Chinese company that, among other things, manufactures wind turbine generators. In recent years, CFIUS has tended to be especially cautious with respect to transactions involving China.
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By: Reid Whitten
The story of one man prosecuted by the SEC and the DOJ for an FCPA violation may run a little below the radar these days, when allegations of bribery by manufacturing, retail, and entertainment companies plaster the headlines. The guilty plea entered by an ex-Morgan Stanley executive, Garth Peterson, however, holds a very important lesson for companies that do not wish to see their own names on the broadsheets above a story about corruption enforcement actions. The lesson is simple: robust corporate compliance can protect a company even whena high-level employee commits brazen acts of bribery.… Continue Reading
By: Curt Dombek, Brian Weimer, Dan Brooks, and Reid Whitten
Since 1999, strict controls on the export of U.S. satellites and satellite components have drastically eroded U.S. manufacturers’ market share in the global satellite industry. On April 18, 2012, the U.S. Departments of State and Defense released the “1248 Report” containing findings related to reducing some of those controls. The 1248 Report assesses the national security risks of removing certain satellites and related components from the tightly controlled United States Munitions List (USML) and transferring them to the generally less restrictive Commerce Control List (CCL). The report concludes that most communications satellites, lower-performing remote sensing satellites, and related components could be transferred from the USML to the CCL without harming U.S. national security. The transfer of these items to the CCL could greatly benefit the U.S. satellite industry by significantly easing the export controls placed on its products.… Continue Reading
By: Thad McBride and Mark Jensen
On March 26, 2012, U.S. medical device maker Biomet, Inc. (Biomet) agreed with the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) to settle charges related to alleged bribes paid to obtain business in Argentina, Brazil, and China. This is the third – though almost certainly not the last – Foreign Corrupt Practices Act (FCPA) settlement with medical device manufacturers.
In the wake of recent setbacks in the Shot Show and Lindsey cases, the settlement serves as a reminder that the U.S. government is still aggressively enforcing the FCPA and broadly interpreting its provisions. … Continue Reading