The Red Scare: Knowledge and the Importance of Due Diligence

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At midnight on November 9, 1989, East Germany’s rulers gave permission for the Berlin Wall, separating East and West Berlin, to be opened up. Ecstatic crowds immediately began to clamber on top of the Wall and hack large chunks out of the 28-mile barrier. I remember viewing the scene on T.V. It was a momentous moment in world history. For those of you who may not know, while East Germany never officially adopted a “red flag” for its country, on most official buildings, the national flag (black-red-gold with hammer and circle) was flown with a solid red flag flown next to it! Twenty-two years later the “fall of the Red Flag of East Berlin”, seems like distant memory. However, for businesses doing business internationally the “red flag” has once again come to represent a warning or a threat in terms of liability under the FCPA

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Published In: General Business Updates, Finance & Banking Updates, International Trade Updates, Securities Updates, Mergers & Acquisitions Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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