FCPA Liability In M&A: Lessons From Pfizer Settlements
September 11, 2012, 3:19 PM EDT
Law360, New York (September 11, 2012, 3:19 PM EDT) -- On Aug. 7, 2012, the U.S. Department of Justice announced an enforcement action against Pfizer H.C.P. Corporation (Pfizer HCP), a wholly owned subsidiary of Pfizer Inc. (Pfizer), while the U.S. Securities and Exchange Commission announced related enforcement actions against Pfizer and Wyeth LLC, another wholly owned Pfizer subsidiary.
These settlements resolve one of the longest-running Foreign Corrupt Practices Act investigations and settlement processes pending before the two agencies (eight years from the time of Pfizer’s voluntary disclosure, and almost two years in the resolution phase), and...