Breaking

U.S. Natural Gas Futures Drop Below $3 for First Time Since 2012
Tweet TWEET

Panalpina, Pride, Noble Settle SEC Bribery Cases

Panalpina Inc., Pride International Inc., and Noble Corp. settled U.S. Securities and Exchange Commission lawsuits alleging they bribed officials of foreign governments.

The agency today claimed Panalpina, the U.S. unit of Panalpina Group, a Swiss freight forwarder, paid bribes to officials in Nigeria, Angola, Russia, Kazakhstan and Brazil. Panalpina agreed to pay $11.3 to settle the case.

Pride, an oil drilling contractor, agreed to pay $23.5 million to settle an SEC suit claiming it engaged in bribery in Venezuela, India and Mexico.

Noble, the world’s third-largest deep-water oil and natural-gas driller, agreed to pay $5.6 million to settle SEC claims involving bribes in Nigeria.

The complaints were filed in federal court in Houston.

Transocean Ltd., the largest offshore oil driller, also was sued by the SEC in federal court in Washington over claims it made illegal payments to Nigerian government officials from 2002 to 2007.

The cases are: SEC v. Noble Corp., 10-cv-4336, U.S. District Court, Southern District of Texas (Houston); SEC v. Panalpina Inc., 10-cv-4334, U.S. District Court, Southern District of Texas (Houston); SEC v. Pride International, 10-cv- 4335, U.S. District Court, Southern District of Texas ( Houston); SEC v. Transocean Inc., 10-cv-1891, U.S. District Court for the District of Columbia (Washington).

To contact the reporters on this story: David Voreacos in Newark, New Jersey, at dvoreacos@bloomberg.net; Laurel Brubaker Calkins in Houston at laurel@calkins.us.com.

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.