John Wood Group Reserves $46M To Settle Bribery Probes
Law360, London (March 12, 2020, 12:20 AM GMT) -- Oilfield services firm John Wood Group PLC expects it will cost $46 million to settle investigations by authorities in the U.S., Brazil and Scotland into potential bribery at a Wood Group subsidiary.
The U.S. Securities and Exchange Commission is one of the authorities probing oilfield services company John Wood Group. (AP)
The company disclosed the figure to investors in a report of its 2019 year-end financials on Tuesday, saying that talks with the U.S. Department of Justice, the U.S. Securities and Exchange Commission and three international regulators had progressed to a point where settlements appeared feasible at that cost.
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!