Team Inc., (Nasdaq: TISI)

The firm is investigating a derivative case against Team Inc., a Texas corporation headquartered in Texas, provides specialized industrial services worldwide, including leak repair, emissions control, and energy management. Because the Company operates internationally, Team is subject to the Foreign Corrupt Practices Act (FCPA).

In the Spring of 2009, Team announced that its Audit Committee had found evidence of improper payments from its Trinidad branch to government entities, and a full investigation of Team’s FCPA violations has been ongoing since – internally, and by the SEC and Dept. of Justice. The financial impact on the Company is significant, and has cost the Company more than $3 million to investigate so far, but shareholders have no idea how widespread this practice is and have no assurance that the Company has this issue under control. Team has also turned over documents to the SEC and DOJ in connection with its FCPA probe. We are evaluating whether to send a demand or to file a complaint, but we seek to discover who paid the bribes, and how far up the corporate hierarchy the authorization of the bribes went (i.e., if the CEO authorized them, he should pay the Company for the money it has expended on the bribes and the subsequent investigative costs).

If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.

Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.

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