Bribery or Improper Incentives
Johnson Utilities Water Rate Increase Settlement
Johnson Utilities, LLC is paying $10.35 million to resolve a class action alleging the company unlawfully raised its water and wastewater rates by bribing a state regulator. Read more
State Farm Mutual Automobile Insurance Company RICO Settlement
Three parties, State Farm, Ed Murnane, and William Shepherd, have agreed to settle a class action claiming they violated Racketeer Influenced and Corrupt Organizations (RICO) Act. The complaint says the RICO violations occurred in their attempts to overturn a $1.05 billion judgment in favor of 4.7 million State Farm policyholders in the case Avery v. Read more
Rio Tinto Bribery for Guinea Iron Ore Mining Concessions Securities Class Action
Simandou is a mountain that is rich in minerals, but it is in the interior of Guinea, a West African country that by some accounts is one of the most corrupt places in the world. The complaint for this class action claims that Rio Tinto PLC became anxious when some of its mining rights were Read more
Grupo Televisa Bribery of FIFA for Broadcast Rights Securities Class Action
The payment of bribes is generally considered wrongdoing, but securities class actions like this one, aimed at Grupo Televisa and losses from investments in its American Depository Receipts (ADRs), base their case on the company’s misleading statements or concealment of bribery, which are violations of the Securities Exchange Act of 1934. In this case, the Read more
Graña y Montero Knew of Bribery in Highway Project, Says Securities Class Action
The bribery of foreign officials is a violation of the US Foreign Corrupt Practices Act (FCPA), but the complaint for this securities class action says that not telling your shareholders about the bribery is a violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint claims that Graña y Montero, Read more
