Takeaways From Weatherford Corruption Settlements

Law360, New York (December 5, 2013, 1:14 PM EST) -- On Nov. 26, 2013, Weatherford International Ltd., an oil-field services company that trades on the New York Stock Exchange, agreed to pay $253 million in criminal and civil penalties as part of a global settlement with the U.S. government to resolve claims that the company and its subsidiaries violated the Foreign Corrupt Practices Act and various export control and sanctions laws.

This case is important for several reasons. First, it involves a combination of FCPA, sanctions and export controls violations, illustrating a continuing trend of cooperation...
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