Securities and Exchange Commission v. Jackson
United States District Court for the Southern District of Texas
908 F. Supp. 2d 834 (2012)
- Written by Arlyn Katen, JD
Facts
The Securities and Exchange Commission (SEC) (plaintiff) sued former and current officers of Noble Corporation (the Noble executives) (defendants) in federal district court for violations of the Foreign Corrupt Practices Act (FCPA) and other federal-securities-law violations. Noble, an international offshore-drilling company, was based in Nigeria. Nigerian law required offshore-drilling-rig owners to either pay permanent import duties or obtain a temporary import permit (TIP) to operate their rigs. The SEC alleged that Noble executives violated the FCPA by bribing Nigerian government officials to issue TIPs based on false paperwork. The Noble executives moved to dismiss the SEC’s complaint on several grounds, arguing in relevant part that the SEC had failed to prove that the alleged bribes were not lawful facilitating payments.
Rule of Law
Issue
Holding and Reasoning (Ellison, J.)
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