Steptoe Knocks Out Derivative Suit Against Tidewater over Foreign Bribes

, The Litigation Daily


Under the guidance of Steptoe & Johnson, the oil exploration company Tidewater Marine International Inc. agreed in 2010 to pay $15 million to resolve SEC and Justice Department claims that its employees bribed Azeri and Nigerian officials. Now Steptoe has come to Tidewater's defense again, fending off a shareholder derivative action accusing Tidewater of hiding the bribery scheme from investors.

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