Hercules 'bribery' action dropped

Bribery probe ended: at Hercules

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Steve Marshall

 08 August 2012 12:34 GMT

US authorities have dropped their pursuit of Hercules Offshore after completing a probe into bribery allegations involving the company.

The Houston-based drilling contractor had been the subject of an investigation into possible violations of the Foreign Corrupt Practices Act involving bribery in its international operations.

The main provisions of the US federal law concern transparency requirements and bribery of foreign officials.

However, the Nasdaq-listed company said in a regulatory filing that the Securities & Exchange Commission “does not intend to pursue enforcement action”, after the Department of Justice reached a similar decision when it ended its own investigation in April.

Hercules, the leading shallow-water driller in the Gulf of Mexico, also has activities in South America, West Africa, the Middle…

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