Law360, New York (February 19, 2013, 5:18 PM EST) -- A recent district court ruling in a Foreign Corrupt Practice Act case could have far-reaching implications for foreign nationals. On Feb. 8, 2013, Judge Richard Sullivan in the Southern District of New York denied a motion to dismiss in the matter of U.S. Securities and Exchange Commission v. Elek Straub, 1:11-cv-09645, also known as the Magyar case. In so doing, the court offered a broad reading of the FCPA's jurisdiction over foreign companies and the foreign nationals who work for them, limiting common defenses — statute of limitations and jurisdiction — for foreign nationals. This decision is of particular import because of the dearth of case law on the FCPA due to the high rate of settlement of the matters and because many of the government's recent FCPA actions have targeted foreign companies and foreign nationals....