Settlements In Brief: Odebrecht, Teva Pharmaceutical And Rolls Royce Settle Bribery Cases

Enforcement actions by criminal and supervisory authorities are settled regularly. In light of these developments, companies are advised to take appropriate measures. This month we highlight some notable settlements which were signed in several countries. In the first case, two Brazilian construction and petrochemical companies, Odebrecht S.A. and Braskem S.A., settled with the Securities and Exchange Commission, the US Department of Justice, and Brazilian and Swiss prosecutors for violation of US anti-bribery rules as well as books and records provisions. The total settlement sum of USD 3.5 billion is the largest ever penalty in a foreign bribery case. In the second case, the Israeli generic drugs manufacturer Teva Pharmaceutical settled with the SEC and DOJ to resolve charges of making improper payments to government officials in several countries, in violation of US anti-bribery provisions. With this settlement, Teva becomes the first Israeli company to appear in