Aon Corporation Investor Alert – The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Aon Corporation for Possible Violations of Foreign Corrupt Practices Act

DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of Aon Corporation (“Aon”) (NYSE: AON) for potential breaches of fiduciary duties and violations of the Foreign Corrupt Practices Act. Specifically, Aon recently agreed to pay the Securities and Exchange Commission (“SEC”) more than $16 million in fines to settle charges that it improperly bribed foreign government officials.

If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

In December 2011, the SEC filed a settled enforcement action against Aon alleging violations of the Foreign Corrupt Practices Act. According to the SEC, Aon will pay a total of approximately $14.5 million in disgorgement and prejudgment interest to the SEC and a $1.7 million criminal fine to the Department of Justice. The SEC complaint alleged that Aon’s subsidiaries paid over $3.6 million in bribes to government officials in multiple foreign countries between 1983 and 2007 to obtain insurance business. The complaint further alleged that these payments were not accurately reflected in Aon’s books and records, and that Aon failed to maintain an adequate internal control system reasonably designed to detect and prevent the improper payments. As a result of these allegedly improper acts, Aon realized over $11.4 million in profits. Aon settled the case without admitting or denying the allegations in the SEC complaint.

According to shareholder rights attorney Willie Briscoe, “The recent revelations about Aon’s alleged unlawful payments and misrepresentations about its books and records has led our firms to investigate possible breaches of fiduciary duties and other violations of state and federal law by Aon’s officers and directors. Based on our investigation, we are prepared to institute litigation to preserve the company and the value of Aon stock for all shareholders.”

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Powers Taylor, LLPPatrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The Briscoe Law Firm, PLLCWillie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com

Source: Powers Taylor, LLP