In the News March 5, 2015

Ted Kang Comments to Inside Counsel on Goodyear’s SEC Settlement

Goodyear Tire & Rubber Company recently settled with the Securities and Exchange Commission (SEC) for $16 million over allegations its subsidiaries violated the Foreign Corrupt Practices Act.

Edward (Ted) Kang, a partner in Alston & Bird’s Government & Internal Investigations Group and a former Department of Justice prosecutor, said: “Goodyear is receiving a far more lenient penalty in this case.… The SEC went out of its way to highlight the company’s cooperation and remedial efforts.”

Kang predicts the Justice Department will likely decline prosecution or give the company a non-prosecution agreement.

The Goodyear case shows how important it is for companies to “exercise sufficient due diligence both before and after acquisitions,” Kang advised.
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