An auditor briefs some of company’s directors about an investigation of bribery. In 2006. Nobody tells the SEC until 2011. What are the director’s obligations once they know or have reason to know of criminal wrongdoing? Why do companies have auditors?
The leader of a price-fixing conspiracy says that people much higher than he was in the bank knew about and indeed participated in the rigging. If true, what does this say about the culture of the company? If true, what happens to the company’s charter?
What happens if a company doesn’t meet its duty to comply with the law? How many people knew?