SOURCE: BuckleySandler LLP

BuckleySandler LLP

July 03, 2014 16:46 ET

Former CEO of Noble Corp., Mark A. Jackson, Resolves SEC Litigation

Settlement Involves No Payments or Employment Restrictions

WASHINGTON, DC--(Marketwired - Jul 3, 2014) - Today, the Securities and Exchange Commission (SEC) agreed to resolve its claims against Mark A. Jackson, the former CEO of Noble Corporation. The SEC had charged Jackson with violating the Foreign Corrupt Practices Act (FCPA) by approving bribes to Nigerian government officials, falsifying the company's internal accounting records and circumventing its internal controls. In the settlement, reached after years of investigation and litigation with trial imminent, Jackson has consented to the entry of judgment solely with regard to the claim that he was a "control person" of Noble's books and records violations, and an injunction on that basis. The settlement does not include payment of money by Jackson or any restriction on his future employment opportunities.

Jackson's lawyer, David S. Krakoff of BuckleySandler LLP, said, "We are very pleased with today's settlement. It resolves allegations that have hung over Mr. Jackson for many years without any admission of liability, without any payment of money and without any restriction on Mr. Jackson's future employment opportunities. Mr. Jackson can now move forward with his life and career."

The case had been scheduled for trial in July before Judge Keith P. Ellison in the Houston Division of the United States District Court for the Southern District of Texas.

Case Reference: SEC v. Mark Jackson and James Ruehlen, 4:12-cv-00563 (S.D. Tex. Feb. 24, 2012).

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