A Closer Look At Weatherford’s Export Violations

Law360, New York (January 29, 2014, 12:38 PM EST) -- On Nov. 26, 2013, three subsidiaries of Weatherford International Limited, a Swiss oil services company that trades on the New York Stock Exchange, agreed to plead guilty to anti-bribery provisions of the Foreign Corrupt Practices Act, the export control violations under the International Emergency Economic Powers Act, and the Trading with the Enemy Act. As a result, Weatherford International and its subsidiaries agreed to pay more than a combined $252 million in penalties and fines.

Regarding the FCPA violations, Assistant Attorney General Mythili Raman of the...
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