News & Analysis as of

Disgorgement

The FCPA Compliance Defense — Don’t Wish for It, You Just Might Get It

by Michael Volkov on

Sometimes a bad idea just will not die. Sometime commentators like to return to simplistic solutions that sound good on paper. These same commentators have failed to address the practical concerns that outweigh any possible...more

Transaction Structuring Matters: North Carolina Rejects Third-Party Rooftop Solar Power Purchase Agreements

by Stoel Rives LLP on

A North Carolina appeals court has reminded energy developers in the state of the importance of structuring a transaction so as not to trigger the state’s utility franchise laws. For one unfortunate developer, that reminder...more

Why Kokesh Really Matters

by WilmerHale on

For U.S. Securities and Exchange Commission enforcement practitioners, perhaps the blockbuster decision of the last U.S. Supreme Court term was Kokesh v. SEC — but not for the reason that you might suspect. In Kokesh, the...more

In the Third-Largest FCPA Enforcement Action Ever, Telia Agrees to Pay Almost $1 Billion to Resolve Bribery Inquiry in Uzbekistan;...

by Ropes & Gray LLP on

In the first blockbuster FCPA action of the Trump administration, on September 21, 2017, Swedish telecommunications company Telia agreed to pay $965 million in total penalties to the U.S. Department of Justice (“DOJ”) and...more

Business Litigation Report - August 2017

Supreme Court Highlights Importance of Statute-Specific Venue Rules - The Supreme Court upended nearly thirty years of practice when it ruled, in the TC Heartland LLC v. Kraft Foods Group Brands LLC U.S. , 137 S.Ct. 1514...more

THE LATEST: Washington Attorney General Seeks Disgorgement of Profits Resulting from Two Transactions between Health System and...

by McDermott Will & Emery on

On August 31, 2017, the Attorney General of Washington filed a complaint in the United States District Court for the Western District of Washington alleging that two transactions harmed competition for healthcare on the...more

August 2017: Disgorgement in SEC Cases Limited to Five Years

Background - On June 5, 2017, the Supreme Court unanimously held in Kokesh v. Securities and Exchange Commission, 581 U.S. , No. 16-529 (2017), that the Securities and Exchange Commission’s (“SEC”) claims for disgorgement...more

FERC v. City Power Marketing — The Commission’s First Enforcement Settlement Since Regaining Quorum

Matt Connolly, a senior associate in Nutter’s Litigation Department, discussed the Federal Energy Regulatory Commission (FERC) issuing its first enforcement order since regaining a quorum in Nutter Insights. Matt commented on...more

FCPA Compliance Report-Episode 346, Mike Skopets on Miller’s Summer 2017 FCPA Report

by Thomas Fox on

In this episode, I visit with Mike Skopets, from Miller & Chevalier on the firm’s Summer 2017 FCPA Report. We discuss the background to the Report and begin with what macro trends the firm identified. We discuss the numbers...more

Second Circuit Affirms Dismissal Of Short-Swing Trading Suit

by Shearman & Sterling LLP on

On August 3, 2017, the United States Court of Appeals for the Second Circuit affirmed the dismissal of a “short-swing” trading suit brought by a shareholder in Herbalife, Ltd., Hologic Inc., and Nuance Communications, Inc....more

Addressing the Question of How to Determine an Infringer’s “Article of Manufacture” under 35 U.S.C. § 289

Just when it seemed that we might have finally reached the end of the epic battle between Apple and Samsung in what was once called the “patent trial of the century,” the District Court for the Northern District of California...more

Undisclosed Fees, Conflicts Yield SEC Sanctions for Adviser

by Dorsey & Whitney LLP on

Undisclosed conflicts, fees and overcharges have become a recurring theme in Commission cases involving investment advisers. Frequently these cases arise out of inspections by OCIE. See, e.g., In the Matter of Credit Suisse...more

Corporate Investigations and White Collar Defense - July 2017

Supreme Court Limits SEC’s Disgorgement Power - Why it matters: On June 5, 2017, the Supreme Court held in Kokesh v. SEC that the five-year statute of limitations found in 28 U. S. C. §2462 with respect to actions for...more

Arizona AG Obtains Judgment and Injunction Against Mortgage Relief Operation

by Goodwin on

On July 27, 2017, the Arizona Attorney General’s Office (Arizona AG) announced that it had obtained a judgment? against an allegedly fraudulent mortgage relief company and its owner. The company is alleged to have targeted...more

SEC Settles Offering Fraud Tied to Cellphone App

by Dorsey & Whitney LLP on

The focus of SEC enforcement has not changed under a new Chairman if recent cases are any indication – at least for now. For example, offering fraud actions have been a key focus of Enforcement for years....more

Dallas Court of Appeals Reverses Landmark Judgment on Common Law Partnership and Joint Venture Claims

by Jackson Walker on

On July 18, 2017, the Dallas Court of Appeals issued its long-awaited decision in Enterprise Products Partners, L.P. v. Energy Transfer Partners, L.P., reversing the Dallas County District Court’s judgment that awarded ETP...more

Top Ten International Anti-Corruption Developments for June 2017

by Morrison & Foerster LLP on

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

Court Addresses Formation of Accidental Partnerships in Long-Awaited Enterprise v. Energy Transfer Appeal

by Locke Lord LLP on

The Dallas Court of Appeals yesterday issued its opinion in Enterprise Products Partners, L.P. v. Energy Transfer Partners, L.P. , in which the court reversed a judgment of more than $500,000,000 rendered after a jury...more

Ninth Circuit Confirms Willfulness is Required to Award Profits in Trademark Cases

by Fenwick & West LLP on

The U.S. Court of Appeals for the Ninth Circuit reaffirmed its commitment to the rule that willfulness is a prerequisite for disgorgement of a trademark infringer’s profits in Stone Creek v. Omnia Italian Design, Case No....more

Capital Markets & Public Companies Quarterly: The Kokesh Decision’s Impact on SEC Enforcement

by McDermott Will & Emery on

The US Supreme Court’s decision in Kokesh v. Securities and Exchange Commission could have long-lasting implications for the SEC’s enforcement power. We discuss that decision and other developments from the second quarter of...more

Fourth Declination With Disgorgement Announced Under FCPA Pilot Program

by Shearman & Sterling LLP on

On June 30, 2017, the Department of Justice (“DOJ”) announced that it had declined to bring charges against and was closing its investigation into CDM Smith Inc. (“CDM”), a Boston-based engineering and construction group, for...more

Eighth Circuit Vacates Disgorgement Order As Time-Barred Under Kokesh But Leaves Injunction Undisturbed

by Shearman & Sterling LLP on

On June 29, 2017, the United States Court of Appeals for the Eighth Circuit vacated a disgorgement order against Crawford Capital Corporation, a venture capital firm, and its owner, Paul D. Crawford, citing the U.S. Supreme...more

Regulatory Update and Recent SEC Enforcement Actions

by Blank Rome LLP on

REGULATORY UPDATE - Department of Labor (“DOL”) Fiduciary Rule Partially Goes into Effect - On June 9, 2017, after a near two month delay, the DOL’s controversial Fiduciary Rule (“the Rule”) became partially effective....more

Anti-Corruption Digest - July 2017

by Dorsey & Whitney LLP on

Welcome to Dorsey & Whitney’s monthly Anti-Corruption Digest. The Digest puts material regarding anti-corruption enforcement from around the world at your fingertips, keeping you ahead of critical events that impact global...more

FCPA Digest - July 2017 - Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act

by Shearman & Sterling LLP on

Shearman & Sterling’s bi-annual Trends & Patterns in FCPA Enforcement report provides insightful analysis of recent enforcement trends and patterns in the US, the UK and elsewhere, as well as helpful guidance on emerging best...more

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