A Broad Reading Of FCPA's Jurisdiction Over Foreign Cos.

Law360, New York (February 19, 2013, 5:18 PM EST) -- A recent district court ruling in a Foreign Corrupt Practice Act case could have far-reaching implications for foreign nationals. On Feb. 8, 2013, Judge Richard Sullivan in the Southern District of New York denied a motion to dismiss in the matter of U.S. Securities and Exchange Commission v. Elek Straub, 1:11-cv-09645, also known as the Magyar case. In so doing, the court offered a broad reading of the FCPA’s jurisdiction over foreign companies and the foreign nationals who work for them, limiting common defenses — statute...
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