News & Analysis as of

Enforcement Actions

Nationwide Healthcare Prosecutions Targeting an Array of Practices . . . Is "Just The Beginning"

by Bracewell LLP on

On July 13, 2017, the Department of Justice ("DOJ"), in conjunction with the Department of Health and Human Services ("HHS"), continued its annual tradition of coordinating the filing of charges and sweeping arrests in...more

DOJ and OIG Announce Largest Ever National Health Care Fraud Takedown; Focus on Opioids

Continuing its annual tradition, the U.S. Department of Justice (“DOJ”) and the U.S. Department of Health and Human Services (“HHS”) announced last week the largest ever health care fraud enforcement action by the Medicare...more

Case Update: In Consumer Data Breach Case, Eleventh Circuit Indicates Concern over Scope of FTC’s Enforcement Actions

by Dorsey & Whitney LLP on

On June 21, 2017, the Eleventh Circuit Court of Appeals heard oral argument in LabMD, Inc. v. FTC, Case No. 16-16270, a case that is being carefully watched to see if it will clarify the limits of the Federal Trade...more

FTC Enforcement And Why It’s Important

by Fox Rothschild LLP on

Fraud, deception, and unfair business practices are problems all companies and consumers are bound to come across. That is where the Federal Trade Commission (“FTC”) comes in. The FTC enforces federal consumer protection...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission affirmed by a divided vote an Initial Decision dismissing insider trading charges against Wells Fargo trader Joseph Ruggieri. At a hearing the Division of Enforcement failed to prove that in six instances Mr....more

Second Circuit Limits Disclosure of Independent Monitor Reports in Deferred Prosecution Cases

by Pepper Hamilton LLP on

On July 12, the U.S. Court of Appeals for the Second Circuit issued an important decision regarding the role of federal courts in cases resolved through deferred prosecution agreements (DPAs) — a settlement avenue that the...more

Split Commission Can't Reverse Insider-Trading Dismissal

by Burr & Forman on

Trader Joseph Ruggieri finally prevailed last week, when SEC Commissioners Stein and Piwowar split on whether Enforcement proved his four trades (in 2010-2011) were made on inside information....more

The Financial Report, Volume 6, Number 13

by DLA Piper on

Discussion and Analysis - Two of our items today focus on remarks by new SEC Chairman Jay Clayton and, if they are any indication of the direction the new Chairman intends to take the Commission, they could go a long way...more

Maine Superior Court Weighs in on Code Enforcement Appeal

by PretiFlaherty on

Earlier this year, Maine’s Superior Court issued a decision in Blasco v. Town of Southport that provides a useful reminder for municipalities about appeals of code enforcement actions. The case involved an 80B appeal of a...more

U.S. Commodity Futures Trading Commission Enters Into Its First Public Non-Prosecution Agreements

by Allen & Overy LLP on

On June 29th, 2017, the U.S. Commodity Futures Trading Commission (CFTC) entered into the first public non-prosecution agreements in its history with three former Citigroup traders, pledging not to pursue civil...more

SEC and U.S. Attorney’s Office Bring Action Against Promoter of Bitcoin Store, Inc.

by Perkins Coie on

On June 30, 2017, the SEC and the U.S. Attorney brought parallel civil and criminal fraud charges against Renwick Haddow, the owner of an unregistered broker-dealer entity named InCrowd Equity Inc., and two corporate entities...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Recently installed Chairman Jay Clayton delivered his first remarks this week, outlining his views for moving forward. The Chairman emphasized IPOs, market structure, assessing the impact and cost of regulations and cyber...more

DOJ Settlement Looks to Set New Benchmarks for Suspicious Order Monitoring

by Ropes & Gray LLP on

This week, the U.S. Department of Justice and Drug Enforcement Administration announced a $35 million settlement with a major pharmaceutical manufacturer to resolve alleged failures to monitor and report suspicious orders for...more

Panda Express Fined $400,000 for Form I-9 Compliance Violation

Panda Express—the world’s leading Chinese fast food chain—agreed to settle a US Department of Justice (DOJ) investigation into its Form I-9, Employment Eligibility Verification procedures.  Panda Express was fined $400,000...more

Justice Department Settles with Michigan Credit Union for Violations of the Servicemembers Civil Relief Act

by Ballard Spahr LLP on

The U.S. Department of Justice (DOJ) announced last week that it reached an agreement with Michigan-based COPOCO Community Credit Union to settle a lawsuit alleging that the credit union violated the Servicemembers Civil...more

Insider Trading, Research on Evading Detection Yields SEC, DOJ Charges

by Dorsey & Whitney LLP on

Trying to cover-up illegal conduct can, and usually does, make the situation worse. A research engineer who used material non-public information obtained from his attorney wife to trade in advance of two acquisitions while...more

Ontario Court of Appeal Upholds Karigar Conviction for Bribery of Foreign Public Official

by Bennett Jones LLP on

On July 6, 2017, the Ontario Court of Appeal upheld Nazir Karigar's conviction and three-year prison sentence for agreeing to bribe to a foreign public official contrary to the Corruption of Foreign Public Officials Act...more

HUD Bans Mortgage Lender from Originating FHA-Insured Loans Because of False Financial Statements

by Goodwin on

?On July 11, 2017, the United States Department of Housing and Urban Development (HUD) announced? that its Mortgagee Review Board had suspended a national mortgage lender from originating and underwriting new mortgages...more

New SEC Chair Announces Guiding Principles

In remarks before the Economic Club of New York, new SEC Chairman Jay Clayton discussed eight guiding principles: Principle #1: The SEC’s mission is our touchstone. Investors and capital markets will suffer if the SEC...more

SEC Charges Boiler Room Operators With Fraud

by Dorsey & Whitney LLP on

Since the price of oil declined from its once lofty numbers the oil industry has suffered. Yet those engaged in offerings securities supposedly to fund oil firms do not seem to have been impacted....more

OCR, DOJ Heads Clarify Plans to “Reorient” Approach

by Barley Snyder on

With all of the issues the Trump administration is attending to as the nation’s transition continues, smaller -- but still-important -- issues aren’t getting much attention. But in late June, high-ranking federal officials...more

“Too Important to Jail,” the Yates Memorandum and FCPA Criminal Prosecutions

by Michael Volkov on

The Justice Department’s continuing lack of individual criminal prosecutions in the FCPA arena continues to raise serious questions. DOJ’s issuance of the Yates memorandum was seen as a new and important reiteration of DOJ’s...more

EU Commission Exposes Automotive Lighting Cartel

by Bryan Cave on

On 21st June 2017 the European Commission announced that it had fined Automotive Lighting and Hella over €26 million for participating in an automotive lighting cartel, in breach of Article 101 of the Treaty for the...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

Refrigeration Systems Targeted: Risk Management Plans and Release Reporting

by Williams Mullen on

Companies operating ammonia refrigeration systems are easy targets for EPA under a number of environmental programs. Recent history suggests release reporting under Section 112(r) of the Clean Air Act (CAA) and under the...more

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