Parker Drilling Confirms $15.85 FCPA Settlement; Shares Add 1%


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Parker Drilling Company ( PKD ) announced that it has settled with the U.S. Justice Department (DOJ) and the U.S. Securities and Exchange Commission (SEC).

The settlement was related to parallel investigations that the DOJ and SEC conducted regarding possible violations of U.S. law, including the Foreign Corrupt Practices Act ( FCPA ), by the company. Parker Drilling will pay $15.85 million to settle these matters, which is the amount previously announced and recorded as a charge for Q4 2012.

The agreement with the SEC is contingent upon approval by a U.S. District Court.

PKD is up 0.8% to $4.03. Shares have a day's range of $3.96 - $4.19, with a 52-week range of $3.61 - $6.18.

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This article appears in: Investing , Commodities
More Headlines for: FCPA , PKD

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