The U.S. District Court for the Southern District of New York Feb. 8 greenlighted a Securities and Exchange Commission suit against three former executives of Hungarian telecommunications company Magyar Telekom PLC over allegations that they orchestrated a scheme to bribe Macedonian officials in violation of the Foreign Corrupt Practices Act (FCPA) (SEC v. Straub, S.D.N.Y., 11-09645).
In a decision by Judge Richard Sullivan, the court rejected the defendants’ motion to dismiss the complaint, finding that the SEC established personal jurisdiction; its claims were timely; and it had sufficiently pleaded claims under the FCPA.
Scheme Alleged.
In a 2011 ...
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