Faruqi & Faruqi, LLP Is Investigating Aon Corporation on Behalf Of Its Shareholders
Faruqi & Faruqi, LLP is investigating the Board of Directors of Aon.The investigation focuses on possible breaches of fiduciary duties by the Board of Directors in relation to allegations that the company violated the Foreign Corrupt Practices Act.
By: Faruqi & Faruqi, LLP
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Specifically, Aon has entered into a non-prosecution agreement with the Department of Justice and agreed to pay a $1.76 million penalty to resolve violations of the FCPA. Aon also reached a settlement with the Securities and Exchange Commission (“SEC”) and agreed to pay approximately $14.5 million in disgorgement and prejudgment interest. The SEC complaint alleges that Aon made over $3.6 million in improper payments to various parties between 1983 and 2007 as a means of obtaining or retaining insurance business in several countries. Funds were used to reimburse officials for non-training related activity, including travel with spouses to overseas tourist destinations, or for uses that could not be determined from Aon’s books and records and which did not include any recorded business purpose.
If you own common stock in Aon and wish to obtain additional information, please visit us at http://www.faruqilaw.com/
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