Former Siemens Argentina CEO Herbert Steffen and a Hungarian telecommunications executive named Elek Straub have a few things in common, including hiring Skadden Arps to defend them against FCPA claims over alleged overseas bribes. But while the SEC's claims against Steffen were dismissed, Straub was not so fortunate.
February 22, 2013 at 12:00 AM
1 minute read
Former Siemens Argentina CEO Herbert Steffen and a Hungarian telecommunications executive named Elek Straub have a few things in common.
Both were targeted with Foreign Corrupt Practices Act claims by the U.S. Securities and Exchange Commission over alleged overseas bribes. Both hired Skadden, Arps, Slate, Meagher & Flom to defend them. And both tried to convince federal judges in Manhattan that the court didn’t have personal jurisdiction to hear their case.
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