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Westport and CEO Settle with SEC for China-Related Allegations of Improper Payments

Alert October 11, 2019

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  • Westport and CEO Settle with SEC for China Related Allegations of Improper Payments
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Westport and CEO Settle with SEC for China-Related Allegations of Improper Payments

October 11, 2019, Covington Alert

On September 27, 2019, the Securities and Exchange Commission (“SEC”) announced a $4.1 million settlement with Westport Fuel Systems, Inc. (“Westport”) and its former chief executive officer, Nancy Gougarty. Based in Vancouver, Canada, Westport is a clean fuel technology company that has shares listed on the NASDAQ. The SEC’s cease-and-desist order finds that Westport and Gougarty violated the anti-bribery, books and records, and internal controls provisions of the FCPA, and that Gougarty caused certain of Westport’s violations.

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