Ex-Magyar Execs Can Face FCPA Claims In NY, SEC Says

Law360, New York (January 17, 2013, 7:24 PM ET) -- The U.S. Securities and Exchange Commission on Thursday defended a foreign bribery action against former executives of Hungary's Magyar Telekom PLC, saying the men have sufficient ties to the U.S. to be sued in New York.

Though Magyar Telekom's alleged bribery occurred overseas — three executives allegedly oversaw a scheme to bribe officials in Macedonia and Montenegro to block a competitors' proposed entry — the company listed its stock on U.S. exchanges and filed reports with the SEC, the commission told U.S. District Judge Richard Sullivan...
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