Foreign Corrupt Practices Act: Investigations Dataset

Investigation Name: Investigation into Panasonic Avionics' Activities in Undisclosed Countries

Trend: None

Type of investigation: Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation: Unknown

Whistleblower: Yes

Summary

Panasonic Corporation ("Panasonic"), headquartered in Osaka, Japan, was a multinational corporation organized into eight business segments, one of which included Panasonic Avionics Corporation ("PAC"), a wholly owned subsidiary based in the U.S. that manufactured in-flight entertainment systems and global communications services to airlines worldwide. PAC’s books and records and financial accounts were consolidated into Panasonic’s books and records and reported on Panasonic’s consolidated financial statements. Panasonic’s shares were registered with the SEC until April 22, 2013, and traded on the New York Stock Exchange. Additionally, from May 1, 2015 through June 20, 2016, Panasonic’s securities were registered with the SEC.

In a press release dated February 2, 2017, Panasonic disclosed that PAC was under investigation by the DOJ and SEC for possible violations of the FCPA and other securities laws. Panasonic said they were cooperating with the agencies.

On April 30, 2018, the DOJ and SEC announced enforcement actions against PAC and Panasonic, respectively.

On December 18, 2018, the SEC announced enforcement actions against PAC executives Paul A. Margis and Takeshi "Tyrone" Uonaga.

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| Investigations Dataset

Investigations Dataset

Information & Summary

Investigation into Panasonic Avionics' Activities in Undisclosed Countries

Information & Summary

Protected Content