Parker Drilling Faces $16M Charge To Resolve FCPA Probe

Law360, New York (February 15, 2013, 5:03 PM ET) -- Parker Drilling Co. faces a nearly $16 million charge in a proposed settlement with U.S. authorities to resolve a bribery investigation of the company in countries including Kazakhstan and Nigeria, the Houston-based drilling services firm said Friday.

Parker said it reached an agreement with U.S. Department of Justice prosecutors and regulators at the U.S. Securities and Exchange Commission in their investigation of its potential violations of the Foreign Corrupt Practices Act and other U.S. laws, according to a regulatory filing Friday.

"We are pleased with this...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required