U.S. Offers Rare Account of Why It Didn’t Pursue Bribery Charges

From the Wall Street Journal

As the Securities and Exchange Commission announced it reached non-prosecution agreements in two unrelated foreign-bribery cases, the U.S. Justice Department took the rare step of releasing letters sent to the companies explaining why it decided to close the cases without filing charges.

The companies — Cambridge, Mass.-based internet-services provider Akamai Technologies and Providence, R.I.-based home-security and thermostat systems-maker Nortek — both agreed to forfeit ill-gotten gains connected to bribes paid to Chinese officials by foreign subsidiaries, the SEC said. Both companies self-reported the misconduct and they cooperated extensively with SEC probes, the SEC said.

Read the full article.