Extract
Corporate Investigations Update.
This is an updte on the past year's developments in government enforcement in the area of business crimes. One year ago, we sponsored a seminar entitled "The Brave New World of Corporate Criminal Enforcement," which explored the many new corporate law enforcement efforts and their impact on corporate counsel and executives. In the ensuing year we have witnessed a continuation of that same pattern. Here is a review of the latest developments.
I. CORPORATE SCANDAL SCORECARD Response To Government Investigation Remains Critical Both federal and state authorities have scrutinized company responses to the discovery of potential wrongdoing and to government investigations. Indeed, the company's response has become nearly as important to charging decisions as the underlying matters under investigation. This places an enormous responsibility on corporate counsel and the board of directors, particularly the audit committee, to insure that the company response is prompt and careful. Obstruction Of Justice Prosecutions Continuing the pattern begun with the prosecution of Arthur Andersen in the Enron investigations, both Federal and state authorities have been extremely sensitive to any hint of possible obstruction of justice. In a number of highly publicized cases the response to a government investigation has dwarfed the actual underlying activities. Clearly, the prosecutions of Martha Stewart ...See the full content of this document
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