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Stock impact report

Vantage Drilling agrees to $5M settlement linked to Petrobras probe [Seeking Alpha]

Petroleo Brasileiro S.A.- Petrobras (PBR) 
US:NYSE Investor Relations: investidorpetrobras.com.br/en
Company Research Source: Seeking Alpha
Vantage Drilling ( OTCPK:VTGDF ) agrees to pay $5M in a settlement with the SEC over accounting control deficiencies at its predecessor company that violated the Foreign Corrupt Practices Act. The case arose from allegations of improper payments made in 2009-10 by a former Vantage director to former Petrobras (NYSE: PBR ) officials relating to the contracting of a drillship; the Brazilian company canceled the contract in 2015, which played a role in Vantage filing for bankruptcy. The SEC says Vantage failed to devise a system of internal accounting controls regarding its former director and failed to implement internal controls relating to its use of third-party marketing agents. Click to subscribe to real-time analytics on PBR Now read: GeoPark's Q3 Results Point To Further Upside » Subscribe for full text news in your inbox Show less Read more
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