Panasonic Discloses FCPA Investigation

On February 2, Panasonic Corporation disclosed that U.S. subsidiary Panasonic Avionics was being investigated by the DOJ and SEC for possible violations of the FCPA and other related laws.  According to its press release, Panasonic is cooperating in the investigation and recently began settlement discussions with both agencies.  The countries at issue in the investigation have not been disclosed.

Although Panasonic had not spoken publicly about the probe until this week, the Wall Street Journal first reported the investigation in 2013.  Panasonic Avionics makes in-flight entertainment and communication systems for airlines.