Kudos To Cobalt – Refusing To Settle Is An Option
A blog post on FCPA Professor applauds Cobalt International for refusing to settle allegations that it violated the Foreign Corrupt Practices Act in relation to its business operations in Angola. “Just because the SEC thinks your company has violated the Foreign Corrupt Practices Act, it isn’t necessarily so and you don’t have to roll over and write a check,” the article says. ‘To state the obvious, unless a company caves, the SEC actually has to prove an FCPA violation and history has demonstrated that when forced to do, the SEC often fails.”
