False Statements

News & Analysis as of

New York AG Civil Suit Targets International Bank’s “Dark Pool”, Relationships With High-Frequency Traders

On June 25, New York Attorney General (AG) Eric Schneiderman announced the filing of a civil suit against a large international bank alleging that, from 2011 to the present, the bank violated the Martin Act by making false...more

City of Chicago Sues Big Pharma Over Opioid Marketing Campaign of Deception

Opioids are frequently prescribed to ease the pain for those suffering from cancer but the city of Chicago believes the drug use has gone above and beyond cancer pain and it’s suing Big Pharma for aggressively pushing the...more

SEC Bans Repeat, Bad-Faith Tipster From Future Submissions

Last month, after an individual filed 196 award applications, the SEC Office of the Whistleblower (OWB) issued a detailed Final Order deeming him/her ineligible for an award in any of his/her pending applications and...more

The MCDC Initiative: Window Closes on September 10, 2014

As highlighted in the SEC’s 2012 Municipal Market Report, the SEC has expressed significant concern that many issuers have not been complying with their obligation to file continuing disclosure documents and that federal...more

DOJ Shifts Stance on False Statements Prosecutions - A Change That Could Have a Major Impact on Future White Collar...

The U.S. Department of Justice (DOJ) recently adopted a more defense-friendly position on criminal prosecutions under a commonly used federal charging statute, Section 1001. This statute makes it a crime to "knowingly and...more

Fourth Circuit Declines to Extend Janus to Criminal Cases

A three-judge panel of the US Court of Appeals for the Fourth Circuit recently affirmed the dismissal of a lawyer’s habeas petition, finding that Janus Capital Group Inc. v. First Derivative Traders, a US Supreme Court case...more

District Court Finds Fiduciaries Have No Duty to Investigate False Sale Allegations for ESOP Investment

In Malcolm v. Trilithic, Inc., 2014 WL 1324082, No. 1:13-cv-00073 (S.D. Ind. Mar. 31, 2014), the Southern District of Indiana held that plan fiduciaries were under no duty to investigate allegations that a false sale had been...more

SBA Suspends CEO for Providing False Information

After suspending Tony Jimenez, founder and chief executive officer of MicroTechnologies, for five months for providing false information to the agency, the Small Business Administration (SBA) will allow him to resume control...more

Appropriate Cautionary Language Leads to Dismissal of Investor’s Securities Fraud Suit

A California district court recently dismissed Mellanox Technologies Ltd. investors’ claims that the company made false statements about both its prominence in the interconnect market and its revenue and growth prospects. The...more

Tax Court Upholds Penalties Imposed For False Statements

In Morton v. The Queen (2014 TCC 72), the Tax Court of Canada upheld penalties imposed by the Minister of National Revenue (the “Minister”) under subsection 163(2) of the Income Tax Act (Canada) (the “Act””) despite novel...more

Halliburton: Is the Fix as Basic as Alleging Omissions under Affiliated Ute? Or Is That Too Cute?

Even the most experienced securities defense attorneys regularly summarize Rule 10b-5(b) as creating a cause of action for “false or misleading statements and omissions of material fact.” Courts –including the Supreme Court...more

Court Rules Article Reporting About "False Testimony" Not "Actual Malice"

A Maryland court dismissed a defamation lawsuit against a newspaper, filed by a former chief deputy state's attorney, over articles reporting that he had given "false testimony" about a murder investigation. The articles in...more

SEC Settles Financial Fraud Case

Two senior executives at Veolia Environmental Services Special Services, a U.S. subsidiary of Paris based multi-national Veolia Environment S.A., were named in and resolved a financial fraud case with the SEC. SEC v. Hohol,...more

CFTC Again Charges Civil Perjury – This Time for Statements Made in an Off-the-Record Interview

On January 2, 2014, the US Commodity Futures Trading Commission (CFTC) ordered a Russian foreign national to pay a $250,000 civil penalty for making false and misleading statements to CFTC staff in an interview during an...more

Fair Work Commission Dismisses Unfair Dismissal Claim Involving False Bullying Allegations

In handing down its recent decision in Hunter v The Commonwealth of Australia, represented by the Department of Sustainability, Environment, Water Population and Communities [2013] FWC 7917 (Hunter v Commonwealth), the Fair...more

#Libel and the Lulu App

You can rate your favorite pizza place online. Why not your ex-boyfriend? That’s the idea, at least, behind Lulu. The popular app allows women, verified through their Facebook profiles, to rate men using pre-written...more

M&A Agreements: Limitations on Contractual and Extra-Contractual Liabilities©

In This Issue: - Perspective - Pre-Signing Definitive Documents - Between Sign and Close - Post-Closing: Fraud Claims - Post-Closing: Survival Clauses - More on Fraud: Not all Erroneous Statements of...more

Employee's Dishonesty About Facebook Posts Supports Defense To Retaliation Claim

A recent opinion out of the 10th Circuit Court of Appeals demonstrates the important role social media plays in labor and employment lawsuits. In Debord v. Mercy Health System of Kansas, Inc., a Kansas hospital was found not...more

Operative Reports May Lead to False Statement Prosecution

You are a hardworking surgeon who is committed to providing quality care to all of your patients, including your Medicare beneficiaries. Because you are so busy, you routinely dictate your pre-operative and post-operative...more

Federal court confirms broad reading of “willfully” in health care false statements cases: Ignorance of the law is no defense

In Brief - The First Circuit recently confirmed that in prosecutions for false statements in health care matters, a defendant does not have to know that making the statement is illegal to be found to have acted...more

Federal Circuit Affirms Inequitable Conduct Determination Under Therasense “But For” Exception and Reaffirms Significance of Rohm...

Today, the Federal Circuit upheld the District Court’s inequitable conduct verdict based on the submission of false affidavits to the United States Patent & Trademark Office (“PTO”). Intellect Wireless, Inc. v. HTC Corp.,...more

Disability Management Company And Principals Not Guilty Of Making False Statement

A disability management company charged under the Ontario Insurance Act with knowingly making false or misleading statements to an insurer has been found not guilty. The charges were brought on behalf of the Financial...more

Falsity is Fundamental: The Case for Emphasizing Arguments against Falsity

In defending a securities class action, a motion to dismiss is almost automatic, and in virtually all cases, it makes good strategic sense. In most cases, there are only four main arguments...more

Change in Policy Regarding False Claims to U.S. Citizenship by Minors

According to correspondence by the U.S. Department of Homeland Security (DHS) and the U.S. Department of State (DOS) to Senator Harry Reid, the U.S. Government has modified its position, with respect to minors, on the...more

Texas Federal District Court Allows Government’s FCA/FIRREA Mortgage Suit To Proceed

On September 10, the U.S. District Court for the Southern District of Texas denied a mortgage lender’s motion to dismiss the federal government’s claims that the lender and two of its executives knowingly made false...more

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