TOBACCO CONTROL LAWS

S.E.C. v. Universal Corporation

The U.S. Securities and Exchange Commission alleged that an international tobacco sales company bribed foreign officials in order to get or retain business. The SEC charged that the company paid almost $2 million in bribes between 2000 and 2007 to government officials in Thailand, Mozambique, and Malawai. The company entered into a settlement agreement with the SEC prohibiting the company from engaging in future acts of bribery and improper recordkeeping. Although the company did not admit guilt, it agreed to pay a fine of $4,581,276.51 and to hire and SEC-approved independent monitor to evaluate its recordkeeping and reporting policies for 3 years.

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S.E.C. v. Universal Corp., 1:10-cv-01318-RWR, US District Court for the District of Columbia (2010).

  • United States
  • Aug 6, 2010
  • US District Court for the District of Columbia

Parties

Plaintiff Securities and Exchange Commision

Defendant Universal Corporation

Legislation Cited

Foreign Corrupt Practices Act of 1977 (FCPA)

Securities and Exchange Act of 1934

Related Documents

SEC Complaint Consent

Type of Litigation

Government Enforcement Action
Government, through its agencies and officials including prosecutors, may seek to enforce its health laws. For example, the government may revoke the license of a retailer that sells tobacco products to minors. These cases may also directly involve the tobacco industry, for example, a government might impound and destroy improperly labeled cigarette packs.

Tobacco Control Topics

Illicit Trade
Measures relating to illicit trade, including smuggling, illicit manufacturing and counterfeiting. (See FCTC Art. 15)
Liability
Measures dealing with criminal and civil liability, including compensation. (See FCTC Art. 19)

Substantive Issues

Consumer Protection Violation

Any violation of a law designed to ensure fair trade, competition, or the free flow of truthful information in the marketplace. For example, a government may require businesses to disclose detailed information about products—particularly in areas where safety or public health is an issue.

Industry-Perpetrated Fraud
The tobacco industry may have perpetrated a fraud upon the public or the courts by presenting false information or deliberately hiding known-facts.

Type of Tobacco Product

None

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