A Rare Sight: DOJ Nonprosecution Agreements

Law360, New York (May 17, 2011, 2:39 PM EDT) -- In an extremely rare move, the U.S. Department of Justice Antitrust Division recently announced that it had entered into a nonprosecution agreement (NPA) with UBS AG (UBS) to resolve criminal antitrust charges. Under the terms of the NPA, the global financial institution agreed to pay $160 million in restitution and acknowledged responsibility for “illegal, anti-competitive conduct by its former employees ... [who] entered into unlawful agreements to manipulate the bidding process and rig bids on municipal investment contracts.”

UBS also agreed to cooperate fully in both...
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