Case Detail

SEC v. Tyco Int’l Ltd. (S.D.N.Y. 2006)


Case Details

  • Case Name
  • SEC v. Tyco Int’l Ltd. (S.D.N.Y. 2006)
  • Date Filed
  • 04/17/2006
  • Enforcement Agency
  • SEC
  • Countries
  • Brazil, Korea, South
  • Foreign Official
  • Foreign officials in Brazilian municipal water and waste treatment systems and South Korean officials, including Minister of Construction and Finance and a military general.
  • Date of Conduct
  • 1996 to 2002
  • Nature of Business
  • Tyco International Ltd. (“Tyco”), a Bermuda corporation, manufactures and provides services in fire protection and safety systems, electronic security services, electrical and electronic components, medical products, and engineered products and services.  Tyco is listed on the New York Stock Exchange.
  • Influence to be Obtained
  • Payments were made to secure construction and other service contracts for government‑controlled projects.
  • Enforcement
  • In April 2006, Tyco and the SEC reached a settlement with respect to a host of alleged violations of the securities laws and other laws, including a single count alleging an FCPA violation.  Tyco agreed to pay a $50 million fine and $1 in disgorgement as part of the settlement, which allows Tyco to avoid admitting any of the allegations.
  • Amount of the Value
  • Not Stated
  • Amount of Business Related to Payment
  • Not Stated
  • Intermediary
  • Lobbyists
  • Citizenship of Parent Entity
  • Bermuda
  • Total Sanction
  • $ 50,000,001
  • Compliance Monitor
  • No
  • Reporting Requirements
  • No
  • Case is Pending?
  • No
  • Total Combined Monetary Sanction
  • $ 50,000,001

Defendants

Tyco Int’l Ltd. 

  • Citation
  • SEC v. Tyco Int’l Ltd., No. 06-cv-2942 (S.D.N.Y. 2006).
  • Date Filed
  • 04/17/2006
  • Filed Under Seal
  • No
  • FCPA Statutory Provision
    • Anti-Bribery
    • Books-and-Records
    • Internal Controls
  • Other Statutory Provision
  • Mail Fraud; Wire Fraud; Proxy Disclosure Violations; Reporting Violations.
  • Disposition
  • Complaint and Consent Order
  • Defendant Jurisdictional Basis
  • Issuer
  • Defendant's Citizenship
  • Bermuda
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