Davis Polk & Wardwell LLP (LexBlog Germany)
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Fresenius Medical Care Agrees to Pay $231 Million in Criminal Penalties and Disgorgement to Resolve Foreign Corrupt Practices Act Charges
On March 29, 2019, DOJ officials announced a non-prosecution agreement (“NPA”) with Germany-based Fresenius Medical Care AG & Co. KGaA (“Fresenius”) to resolve a seven-year DOJ and SEC investigation into FCPA violations. Fresenius admitted to paying bribes to public officials to obtain or retain business, failing to implement reasonable internal accounting controls, and failing to...
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IAV GmbH to Pay $35 Million Criminal Fine in Guilty Plea for Its Role in Emissions Issues
On December 18, 2018, officials announced that Germany-based automotive system maker IAV GmbH (“IAV”) has agreed to plead guilty to one felony count and pay a $35 million criminal penalty in connection with its role in Volkswagen AG’s (“VW’s”) use of so-called “defeat device” software to improve performance on U.S. emissions tests. According to court...