Earlier this month, nationwide arts-and-crafts retailer Hobby Lobby settled with U.S. Department of Justice over allegations of smuggling cultural artifacts from Iraq. As part of the settlement, Hobby Lobby consented to forfeiture of the artifacts and payment of $3 million. Hobby Lobby also agreed to adopt internal policies and procedures governing its importation and purchase of cultural property and must submit quarterly reports to the government on any cultural property acquisitions for the next eighteen months.
Corporate Counsel examines what went wrong and the lessons to be learned for any in-house counsel dealing with supply-chain issues. Sarah Rathke provides comments on the importance of oversight, due diligence, and how companies can take advantage of the benefits of attorney-client privilege.
You can read the article here: 3 Key Lessons for Legal Departments From Hobby Lobby’s $3 Million Antiquities Settlement