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 | Investigations Dataset

Stanford Foreign Corrupt Practices Act Clearinghouse a Collaboration with Sullivan & Cromwell LLP

Investigations Dataset

 
Investigation into AAR Corp's Activities in Nepal and South Africa · AAR Corp.

Information & Summary

Investigation into AAR Corp's Activities in Nepal and South Africa

Related FCPA Matter:   AAR Corp's Involvement in Nepal and South Africa between 2015 and 2020 Information

Information & Summary

Investigation Name:    Investigation into AAR Corp's Activities in Nepal and South Africa

Trend:    None

Type of investigation:    Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation:   

  • Nepalese Commission for Investigation of Abuse of Authority
  • U.K. Serious Fraud Office

Whistleblower:    Unknown

Summary

AAR Corp., a Delaware corporation with principal offices in Illinois, is a provider of aviation services. Its common stock, with the stock ticker AIR, is traded on the New York Stock Exchange and the Chicago Stock Exchange.

In an 8-K filed on July 10, 2019, AAR stated that it had retained outside counsel to investigate possible violations of the company’s Code of Conduct, the U.S. Foreign Corrupt Practices Act, and other applicable laws, relating to activities in Nepal and South Africa. The company stated that it had self-reported the investigation to the U.S. Department of Justice, the U.S. Securities and Exchange Commission, and the UK Serious Fraud Office.

In its 10-Q filed on September 26, 2019, AAR confirmed that it was cooperating in the DOJ, SEC, and SFO reviews.

In its 10-Q filed on September 24, 2024, AAR disclosed that it had become aware through news reports that Nepal’s Commission for Investigation of Abuse of Authority had initiated a criminal proceeding in April 2024 against over 35 entities and individuals, including AAR subsidiary AAR International, Inc. The charges alleged violations of Nepalese public procurement law and were related to the same activities in Nepal as above.

On December 19, 2024, the DOJ and SEC announced enforcement actions against AAR.

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