Eli Lilly Strikes $29.4M Settlement Over FCPA Claims

Law360, New York (December 20, 2012, 3:43 PM EST) -- Eli Lilly & Co. agreed Thursday to pay $29.4 million to settle a U.S. Securities and Exchange Commission suit alleging its subsidiaries bribed government officials in Russia, Brazil, China and Poland to win business, becoming the latest drug company accused of Foreign Corrupt Practice Act violations.

The SEC filed and settled a complaint in Washington federal court claiming Eli Lilly secured "millions of dollars of business" in those four countries over a period of 15 years by turning a blind eye to corruption. In Russia, for...
To view the full article, register now.