Spanish Drug Company In Midst Of Internal FCPA Probe

June 27, 2014 — The U.S. Foreign Corrupt Practices Act (FCPA) is a powerful tool for preventing multinational businesses from boosting revenue abroad by paying kickbacks to foreign government officials. When corporations pay bribes to government officials in an effort to secure business overseas, they create an uneven marketplace that destroys honest competition. To redress the problem, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 provides for substantial financial rewards to tipsters who notify the U.S. Securities and Exchange Commission (SEC) about FCPA violations.

Grifols Advisor Targeting Potential Foreign Bribery Operations In Russia And Belarus

Grifols, a pharmaceutical company based in Spain, has revealed recently in an SEC filing that it is conducting an internal FCPA investigation in many countries where the company does business in Europe and the Middle East. The probe, which is focused primarily on sales to Belarus and Russia, is being conducted by an external legal adviser. In addition, the company is looking into trading practices in a number of other countries including China, Brazil, Iran, Turkey and Georgia.
The investigation got underway prior to the time that Grifols acquired Talecris, a biotherapeutics company that voluntarily reported to the U.S. Department of Justice in 2009 that it was conducting an internal probe concerning potential foreign bribery allegations involving drug sales in certain central and East European countries.
In light of the probe, Grifols suspended product shipments to a number of these countries. The company also terminated its agreement with Talecris’ Turkish distributor.
Telecris was notified by the U.S. Justice Department in 2012 that it was concluding its FCPA investigation into the company. Telecris was warned, however, that should new information be revealed, the probe could be reopened.

Informants Notify Government About Foreign Bribery Operations

Waters & Kraus is proud of the firm’s record in representing tipsters in financial fraud lawsuits. While we are not handling this particular case, Waters & Kraus is handling similar cases. If you have similar claims against a different company, contact us or call our attorneys at 855.784.0268. We understand that collaborating with the government about a company distributor’s FCPA violations may seem daunting. But our experienced lawyers, such as Charles Siegel and Loren Jacobson in Texas, are devoted to protecting the rights of whistleblowers.
Contact us by email or phone our FCPA lawyers at 855.784.0268 to discuss how we can collaborate to do what’s right.

What are my chances?

That’s the first question everyone asks. The truth is it’s impossible to know. But we can tell you this. Waters Kraus & Paul has what it takes to fight against big corporate interests and win. That’s why we’ve taken more mesothelioma trials to verdict than any other firm. And that’s why we’ve recovered more than $1.3 billion for clients like you. Do you think you have a case? Contact us now to speak with an attorney.

Call 800.226.9880