Weatherford To Pay $250M To Settle US Corruption Probes

Law360, New York (November 5, 2013, 12:18 PM EST) -- Weatherford International Ltd. has inked deals with the U.S. Securities and Exchange Commission to put an end to a probe of Foreign Corrupt Practices Act violations and other corruption investigations at a cost of about $250 million, the oil services outfit revealed Monday.

Weatherford has reached definitive agreements with the SEC to end the FCPA investigations, the company's involvement in the United Nations' Oil-for-Food program and violations of U.S. trade sanctions, the company said in a regulatory filing.

"FCPA, Oil-for-Food and sanctioned countries definitive agreements reached,...
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