In the Matter of Oil States, International, Inc.

Release No. 53732 (2006)

Study Aids
Case Briefs Overview
Casebooks
Case Briefs
I
From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

In the Matter of Oil States, International, Inc.

Securities and Exchange Commission
Release No. 53732 (2006)

SC

Facts

Hydraulic Well Control, LLC (HWC), a subsidiary of Oil States, International, Inc. (Oil States), hired a Venezuelan consultant to assist with its interactions with Petroleos de Venezuela, S.A. (PDVSA), a Venezuelan company. HWC did not look into the consultant’s background before making the hire and did not train the consultant in compliance with United States laws, including the Foreign Corrupt Practices Act (the Act). HWC’s contract with the consultant did not contain any provisions regarding compliance with the Act. The consultant and certain PDVSA employees intentionally overbilled HWC and took kickbacks. HWC unknowingly made several improper payments to the PDVSA employees. HWC’s bookkeepers, not realizing that these payments were improper, recorded them as ordinary business expenses. The expenses were incorporated into Oil States’s books. The Securities and Exchange Commission (SEC) instituted cease-and-desist proceedings against Oil States, alleging a violation of the Act.

Rule of Law

Issue

Holding and Reasoning ()

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 812,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 812,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 812,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,300 briefs - keyed to 988 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership

Casebooks

Securities Regulation

Key Terms