White Collar Watch - June 2012


In This Issue:

- Indictment of BP Employee Highlights Importance of Taking Control in Response to a Government Subpoena pages 1 - 2

- SEC v. Citigroup: Update on SEC’s Practice of Settling Cases Without Defendants Admitting or Denying Allegations pages 2 - 5

- Record-setting Case Poised to Further Alter Landscape of FCPA Claims pages 5 - 6

Excerpt from Indictment of BP Employee Highlights Importance of Taking Control in Response to a Government Subpoena:

On April 23, 2012, Kurt Mix, a former engineer for BP plc, was charged with two counts of intentionally destroying evidence requested by federal law enforcement authorities investigating the Deepwater Horizon oil spill disaster. The details of the criminal complaint highlight the importance of diligent handling of both internal investigations and document collections in response to government subpoenas. The issuance of one, or even several, legal hold notices may not deter every employee from destroying potentially incriminating emails or texts, and the destruction of evidence will likely lead to criminal liability for employees, and potentially for employers, too.

The Deepwater Horizon rig explosion in April 2010 killed 11 workers and spilled an estimated 4.9 million barrels of oil into the Gulf, leading the U.S. Department of Justice to launch a criminal investigation of the spill. The Mix indictment is the first criminal indictment in that investigation, which is ongoing.

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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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