Investigations pose increasing risks for corporate boards
The growing global focus on governance and regulation creates dilemmas for corporate boards. Dechert helps clients review and implement appropriate compliance, conduct investigations and liaise with regulators.
investigation by the DOJ and SEC into allegations that local intermediaries in multiple jurisdictions made facilitating payments on behalf of the company in violation of the FCPA. “This engagement is one of the most wide- ranging FCPA cases in history,” says partner and former U.S. Attorney for the SDNY David Kelley. “It involved overseeing an internal investigation and massive renovation of a global compliance function, responding to multiple requests for documents and information, and negotiating a resolution, as well as reviewing and investigating several shareholder demand letters.” Following an initial settlement in 2019, Dechert continues to advise on a range of issues, such as shareholder demands concerning FCPA-related conduct and related corporate governance. These situations can also involve advising individual executives, as well as complex situations where a board investigation relates to the company’s handling of separate commercial litigation. “The permutations are endless,” says partner Vince Cohen, the former Acting U.S. Attorney in D.C., “but what they all have in common is the need for boards to have the utmost trust that their lawyers will resolve the issue with absolute discretion.”
The mounting ethical and reputational hazards facing businesses all over the world are finding their way to the boardroom. Increasingly, these problems result in internal and regulatory investigations on behalf of boards or special committees and are often related to complex fraud allegations, other regulatory or criminal proceedings, “Me Too” complaints, parallel litigation threats or other public relations issues. “Such work requires thoughtful, thorough and sophisticated handling to achieve the best results for the company while ensuring that the investigation is credible,” says Dechert chair and renowned white collar litigator Andy Levander. In January 2021, the Special Committee of the Apollo Global Management, Inc. Board released a report by Levander’s Dechert team into then chair and CEO Leon Black’s Band 1 Chambers USA 2021, New York Litigation: White-Collar Crime & Government Investigations: The Elite Band 1 The Legal 500 UK 2021, London Regulatory Investigations and Corporate Crime (Advice to Corporates)
previous professional relationship with the late Jeffrey Epstein. Dechert had been engaged by a Special Committee of the Apollo Board to conduct an independent review to evaluate the nature and extent of Epstein’s relationship with Black and Apollo. Such board engagements can last for several years and require the highest levels of trust between company and advisor “Being a trusted advisor to boards and board members requires total commitment to clients and a deep understanding of their business and strategies,” explains Cathy Botticelli, a white collar partner in the Washington, D.C. office, “and our clients know we will walk through walls to guide them through the toughest challenges.” Dechert has also been representing the Audit Committee of Walmart in connection with a multi-year
Being a trusted advisor to boards and board members requires total commitment to the clients and a deep understanding of their business and strategies.” Cathy Botticelli Partner “
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