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Panalpina, Pride, Noble Settle SEC Bribery Cases

Nov. 4 (Bloomberg) -- 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; Laurel Brubaker Calkins in Houston at

To contact the editor responsible for this story: David E. Rovella at

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