Honest services fraud evolved from a 1941 Supreme Court decision in which a public official received bribes in exchange for favorable action on a city contract.
"Pursuing legal options is not a decision we take lightly, especially because of the longstanding partnerships we have established in Kuwait over the past decade, but PIC is in breach of contract, and we must take action to protect the interests of our company and our shareholders, " Dow Chemical Chief Executive Andrew Liveris said.