Global Investigations Review - The law and practice of international investigations

Cobalt International Energy Inc.

SEC initiates another FCPA inquiry into Cobalt’s Angola dealings

SEC initiates another FCPA inquiry into Cobalt’s Angola dealings

15 March 2017

The US Securities and Exchange Commission has opened an informal inquiry into a contract between Cobalt International Energy and Angola's state-controlled oil company, one month after the DOJ closed a foreign bribery investigation into the Houston-based business.

Cobalt reveals Vinson & Elkins counsel in bid to avoid conflict of interest

20 November 2015

The company, which is facing a foreign bribery-related shareholder lawsuit, initially retained two partners from Vinson & Elkins’s Washington office when it first disclosed an SEC FCPA investigation in 2011.

Sub-Saharan Africa Poses Greatest Corruption Risk, Report Says

18 June 2015

The report contends that sub-Saharan Africa is particularly afflicted by corruption due to immense income inequality and the lack of strong, public institutions designed to combat bribery.

Former Executives Dish in Shareholder Complaint About Private Equity-Founded Cobalt

08 May 2015

The putative class action lawsuit purports to reveal new, previously undisclosed details in the matter, including the name of the current Cobalt executive at the center of an alleged bribery scheme in Angola from 2010 to 2012.

Cobalt Energy Discloses Shareholder Lawsuits Over Alleged Bribery

24 February 2015

The SEC in January told Cobalt it had closed its investigation into allegations that the company had bribed officials at its Angolan oil exploration partner, but a DOJ probe continues.

SEC Terminates Foreign Bribery Investigation into Cobalt

29 January 2015

The Houston-based oil exploration company said it continues to cooperate with a parallel Justice Department inquiry.

Purported Class-Action Suit Filed Against Cobalt Energy for Alleged Corruption in Angola

05 January 2015

An investor is arguing that shareholders "suffered significant losses and damages" as a result of materially false and misleading" financial statements by the oil exploration and production company.

Plaintiff Firms To Investigate Cobalt Energy

06 August 2014

Several shareholder plaintiffs' firms have begun investigations into Cobalt International Energy Inc.'s possible violations of U.S. securities laws while operating in Angola.

Cobalt Energy Receives Wells Notice

05 August 2014

Texas-based Cobalt Energy has received a Wells Notice from the SEC determining that "enforcement action" may be recommended following an investigation into the company's possible FCPA violation in Angola.

FCPA Blogs Round-Up: 'Real World Challenges' in Angola

27 June 2012

A high official in a long-suffering country battles poverty, in his own way.

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