Market Chatter: KBR Case Judge Rules UK Fraud Office May Not Request Documents from Overseas
08:21 AM EST, 02/05/2021 (MT Newswires) -- The UK Supreme Court ruled on Friday that the country's Serious Fraud Office did not act in a lawful manner when it requested the US engineering company KBR (KBR) to provide documents located in other countries, Reuters reported.
KBR was investigated for bribery and corruption.
This ruling sets limits on the ability of government agencies to collect evidence overseas, particularly when conducting investigations on multinational companies, according to the report. In this decision, the UK court overturned an earlier ruling enabling extra-territorial reach in certain investigations.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 30.30, Change: -0.03, Percent Change: -0.10