Monthly Archives

April 2012

CHESTER PLLC Launches new web site www.chester-law.com

By Blog, News

Dallas-based global business & technology law firm CHESTER PLLC is excited to announce the launch of their new web site: www.chester-law.com, now available for public consumption.

CHESTER PLLC is the only global business & technology law firm in the central United States.  The launch of this new web site formally announces the firm’s emergence as a viable alternative to large law firms and NY, DC or LA firms focusing on innovation, business, and/or international transactions and trade law.

Development of the site was been a long, demanding process, but the firm is very pleased with the results.  And the firm knows they couldn’t have done it alone.  The firms notes its thanks to web developer Jake Thompson and to marketing expert Paige Dawson and her team at MPD Ventures for their fine work and assistance on this project.  CHESTER PLLC also thanks the many folks who provided input and feedback as we revised and tweaked the site into something they are very proud to share.

“Although the site has gone ‘live’, it is far from finished – and never will be,” said Managing Attorney Jim Chester.  “We intend to frequently update the site with news, presentations and articles, not to mention the firm’s ‘Trade & Innovation Law’ blog that has been integrated into the site.”

Far from being some “cookie-cutter” or “slick” marketing piece, the site reflects the unique culture and progressive philosophy of CHESTER PLLC, and illustrates the character and  strengths of the firm.

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ABOUT CHESTER PLLC 

CHESTER PLLC is a Dallas-based global business & technology law firm.  The firm represents technology-oriented and other innovation-based companies, and advises clients on a variety of legal issues related to their domestic and international business operations. Firm clients include entrepreneurs, start-ups and privately-held companies of all sizes in a variety of industries.  The firm’s practice includes business formations, acquisitions and technology transactions and agreements; intellectual property (including trademark, copyright, patent and trade secret protection) protection, licensing & enforcement; and eCommerce/Internet business.  The firm also assists companies in international business transactions and import/export and other trade matters (e.g., ITAR, FCPA, and NAFTA, etc.) and has advised clients on business deals involving over 100 countries.
CHESTER PLLC believse it takes great legal representation to protect great ideas and great companies.  If you’d like to learn how CHESTER PLLC can assist your company, please contact the firm at [email protected] or visit our site www.chester-law.com for more information.

Remember – “You’re not alone in the world.”

Medical Device Company to Pay $23 Million to Settle Foreign Corrupt Practices Act Investigation

By Blog, FCPA

Indiana-based Biomet Inc. has entered into a deferred prosecution agreement with the Department of Justice (DOJ) and Securities & Exchange Commission (SEC) to resolve improper payments by the company and its subsidiaries in violation of the Foreign Corrupt Practices Act (FCPA).

The matter is part of an investigation into bribery by medical device companies of health care providers and administrators employed by government institutions.   Previously, Johnson & Johnson and Smith & Nephew Inc. have agreed to pay criminal penalties and entered into deferred prosecution agreements related to the ongoing investigation.

Biomet, headquartered in Warsaw, Ind., manufactures and sells medical devices worldwide and is listed on the NASDAQ.   According to the criminal information filed today in U.S. District Court in the District of Columbia in connection with the agreement, Biomet, its subsidiaries, employees and agents made various improper payments from approximately 2000 to 2008 to publicly-employed health care providers in Argentina, Brazil and China to secure lucrative business with hospitals.   During this time, more than $1.5 million in direct and indirect corrupt payments were made.   In addition, at the end of each fiscal year, Biomet, its executives, employees and agents falsely recorded the payments on its books and records as “commissions,” “royalties,” “consulting fees” and “scientific incentives” to conceal the true nature of the payments.

As part of the agreement, Biomet will pay a $17.28 million criminal penalty and is required to implement rigorous internal controls, cooperate fully with the department and retain a compliance monitor for 18 months.  The agreement recognizes Biomet’s cooperation with the department’s investigation; thorough and wide-reaching self-investigation of the underlying conduct; and the remedial efforts and compliance improvements undertaken by the company.   In addition, Biomet received a reduction in its penalty as a result of its cooperation in the ongoing investigation of other companies and individuals.

In a related matter, Biomet reached a settlement today with the U.S. Securities and Exchange Commission (SEC), under which Biomet agreed to pay $5.4 million in disgorgement of profits, including pre-judgment interest.

SOURCE:  DOJ