Sidley Austin Sued Over $4M Deal In Chinese FCPA Case

Law360, New York (June 14, 2012, 10:49 PM EDT) -- Watts Water Technologies Inc. has launched a malpractice suit against Sidley Austin LLP over its $3.8 million settlement with federal regulators to resolve allegations that its former subsidiary bribed employees of state-owned design institutes in China, according to a media report Thursday.

The company claims Sidley Austin, as Watts’ counsel for its acquisition of a Chinese entity in 2005, failed to warn it about possible corruption issues even though its review of the transaction had uncovered “a suspicious document,” according to a Reuters report. The suit...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.