PRLog - Jan. 31, 2011 - SAN DIEGO -- After Alcatel-Lucent (ADR) agreed to pay more than $137million in relation to Foreign Bribery allegations an investigation on behalf of current long term investors in Alcatel-Lucent (ADR) (NYSE:ALU) concerning whether certain officer and directors can be held liable was announced.
If you are a current long term investor in Alcatel-Lucent (ADR) (NYSE:ALU), and/or if you have any information relating the investigation including former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation, Inc by email firstname.lastname@example.org or call +1(858) 779 - 1554.
Alcatel-Lucent (ADR) reported in 2006 $12.282billion in 12months Total Revenue, in 2007 $17.792billion, in 2008 $16.984billion, and in 2009 $15.157billion. Alcatel-Lucent (ADR) reported in 2006 to 2009 Net Loss ranging from $106million to $5.248billion. For the first three quarters in 2010 Alcatel-Lucent (ADR) reported a combined nine months Total Revenue of $11.134billion with a Net Loss of $674million.
Shares of Alcatel-Lucent (ADR) traded in 2006 over $15 and fell to as low as $1.16 per share in March 2009. Recently ALU shares traded at $3.31 per share.
On December 27, 2010 Alcatel-Lucent had announced that it concluded its settlements with the U.S. Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) following their investigations of violations of the Foreign Corrupt Practices Act.
According to the Justice Department “the Foreign Corrupt Practices Act was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. Specifically, the anti-bribery provisions of the FCPA prohibit the willful use of the mails or any means of instrumentality of interstate commerce corruptly in furtherance of any offer, payment, promise to pay…to a foreign official to influence the foreign official in his or her official capacity … to secure any improper advantage in order to assist in obtaining or retaining business for or with, or directing business to, any person.”
Alcatel-Lucent said the initial agreements in principle with the two U.S. government agencies were disclosed in public filings in 2009 and as part of the company’s year end 2009 results filing issued Feb. 11, 2010. Alcatel-Lucent announced in its 2009 Annual Report that in December 2009 Alcatel-Lucent reached agreements in principle with the SEC and the DOJ with regard to the settlement of their ongoing investigations involving Alcatel-Lucent alleged violations of the Foreign Corrupt Practices Act in several countries, including Costa Rica, Taiwan, and Kenya.
Under the agreement in principle with the SEC, Alcatel-Lucent would enter into a consent decree under which Alcatel-Lucent would neither admit nor deny violations of the antibribery, internal controls and books and records provisions of the FCPA and would be enjoined from future violations of U.S. securities laws, but pay U.S. $ 45.4 million in disgorgement of profits and prejudgment interest and agree to a three-year French anticorruption compliance monitor.
Under the agreement in principle with the DOJ, Alcatel-Lucent would enter into a three-year deferred prosecution agreement (DPA), charging us with violations of the internal controls and books and records provisions of the FCPA, and Alcatel-Lucent would pay a total criminal fine of U.S. $ 92 million, payable in four installments over the course of three years.
The investigation by a law firm on behalf of current long term investors in Alcatel-Lucent (ADR) (Public, NYSE:ALU) concerns whether certain officer and directors at Alcatel-Lucent (ADR) can be held liable in connection with the recent agreement to settle charges of possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), which prohibits companies from making improper payments to foreign officials for the purpose of obtaining or keeping business.
Those who are current long term investors in Alcatel-Lucent (ADR) (Public, NYSE:ALU), and/or those who have any information relating the investigation including former employees and/or whistleblowers, have certain options and should contact the Shareholders Foundation, Inc by email email@example.com or call +1(858) 779 - 1554.
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The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.