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Goodyear FCPA Settlement Highlights Importance of Thorough Pre-Acquisition Due Diligence

2015-03-10 21:15:13| Industrial Machines - Topix.net

On February 24 the SEC charged Ohio-based Goodyear Tire and Rubber Company with violating the books and records provisions of the Foreign Corrupt Practices Act . Goodyear agreed to pay $16.2 million to settle the charges, which stemmed from allegations that the company failed to prevent or detect bribes amounting to more than $3.2 million distributed by local executives at two of its Sub-Saharan subsidiaries in order to obtain tire sales.

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Category:Industrial Goods and Services

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