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Herbalife Agrees to Pay $123 Million to Settle Charges Related to 10-Year Bribery Scheme in China

Herbalife Nutrition Ltd.’s (“Herbalife”) recent settlement of bribery allegations demonstrates the U.S. government’s continuing focus on China and the critical role that board members and senior management of multinationals play in overseeing compliance globally. On August 28, 2020, Herbalife Nutrition Ltd. (“Herbalife”) agreed to pay the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) more than $123 million in penalties and disgorgement to resolve bribery allegations in China. The settlement resolves a long-running probe in which two former executives of Herbalife’s Chinese subsidiary were indicted on criminal charges in November 2019. The resolution is one of many recent noteworthy enforcement resolutions targeting the operations of multinationals in China.

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SEC Settles Cases Alleging Compliance Failures at Private Equity Firms


Time to Read: 1 minutes Practices: Government Enforcement / White Collar Criminal Defense, Hedge Funds, Investment Management, Private Equity, Private Funds, Securities & Futures Enforcement

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On March 11, the SEC announced two matters of significant importance to the private equity industry and to private fund sponsors generally. Together, these cases demonstrate the SEC’s continued focus on the private equity industry, in particular the role of compliance in preventing and detecting possible violations of the securities laws. These cases also reflect the SEC’s interest in monitoring the fundraising activities, valuation practices, and disclosures to investors of private fund sponsors. Although these two matters involved private equity firms, the issues they raised are applicable to a broad range of private fund sponsors, including fund-of-fund and hedge fund managers.

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