Indictments

News & Analysis as of

Inside M&A - Winter 2015

Recent U.S. Cases Highlight Liability Risks to Executives in Mining, Heavy Industrial Transactions - Historically, corporate executives rarely faced personal or criminal liability resulting from mining or environmental...more

RICO Indictment of NECC Executives for Acts of Second-Degree Murder

An Unprecedented Approach to Regulatory Violations - In December 2014, the United States Attorney for the District of Massachusetts obtained a sweeping indictment that charges business executives of the New England...more

Alstom Guilty Plea Sends Strong Message that DOJ Has Harsh View of Inadequate Internal Controls and Failure to Fully Cooperate

On December 22, 2014, French power and transportation company Alstom S.A. (“Alstom”) pleaded guilty to violating the Foreign Corrupt Practices Act (“FCPA”) and agreed to pay $772.29 million, the largest criminal fine ever...more

Tipper in Serial Insider Trading Ring Indicted

Criminal insider trading charges were filed against the former managing clerk of Simpson Thacher & Bartlett, Steven Metro. U.S. v. Metro (D. N.J. Jan. 15, 2015). Mr. Metro was indicted by a grand jury on one count of...more

DOJ Kicks Off 2015 with an FCPA Enforcement Action Against a Former President of a Philadelphia Consulting Company

The U.S. Department of Justice (“DOJ”) wasted no time announcing its first Foreign Corrupt Practices Act (“FCPA”) case of 2015. On January 6, 2015, just two days into the first full week of the new year, Dmitrij Harder, the...more

Justice Department Files First FCPA Case of 2015, Reminds Lawyers to Watch Out

Last week, the Justice Department filed the first FCPA case of 2015 when it indicted Dmitrij Harder, the former owner and president the Chestnut Consulting Group in Huntingdon Valley, Pa. ...more

FCPA Compliance and Ethics Report-Episode 119-FCPA Year in Review, Part I [Video]

In this episode I begin a two-part review of the 2014 FCPA year. In this episode I review some of the significant corporate enforcement actions. ...more

The Darwin Awards, Nepotism and Compliance

I am a podcast aficionado. One of my favorites is Slate’s Hang Up and Listen, which is a weekly discussion of sports events and issues. One of its segments details each participant relating a whimsical event from the previous...more

The DOJ Charges Another Individual With FCPA Violations

FCPA enforcement officials have repeatedly emphasized that a key focus is individuals who violate the Act. This week the Department of Justice announced the filing of a multi-count indictment against the owner of a privately...more

Holley v. Nipro Diagnostics, Inc., C.A. No. 9679-VCP (Del. Ch. Dec. 23, 2014) (Parsons, V.C.)

In this memorandum opinion, the Court of Chancery granted partial summary judgment in favor of a former director on his advancement claims relating to his defense of a pending SEC civil lawsuit alleging insider-trading...more

Avon Settles FCPA Charges

On December 17, 2014, Avon Products, Inc. (“Avon”) resolved Foreign Corrupt Practices Act (FCPA) investigations being conducted by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) with a...more

FCPA Predictions for 2015 (Part II of II)

The key to being a successful (FCPA) prognosticator is never to keep score. If you do, you are likely to be disappointed. Instead, I follow the strategy of calculated distraction – for example, I predicted last year...more

NJ Assembly Passes Crime-Fraud Exception to Spousal Privilege

On December 15, 2014, the NJ Assembly passed legislation that would create a crime-fraud exception to the spousal privilege. The measure, A-3636, was a response to the decision in State v. Terry. In the case, a married couple...more

FCPA Compliance and Ethics Report-Episode 118-the Alstom FCPA Enforcement Action [Video]

In this episode 118, I take a deep dive into the Alstom FCPA enforcement action and its implication for the CCO and compliance practitioner. I also discuss comments from Dick Cassin and the FCPA Professor on the case. ...more

Alstom’s FCPA Guilty Plea and Fine of $772 Million Offer Compelling Lessons

The December 23, 2014, announcement by the U.S. Department of Justice (DOJ) that Alstom, S.A., a French power and transportation company, pled guilty to two Foreign Corrupt Practices Act (FCPA) charges and agreed to pay $772...more

Alstom Joins Santa’s Naughty List – In a Very Big Way

The North Pole for Foreign Corrupt Practices Act (FCPA) enforcement action announcements seems to have temporarily moved south for the month of December. Last week there was the final announcement of the long-standing Avon...more

Bribery Is Not a Free Speech Right, Judge Says

In late 2012, a California district attorney’s office obtained an indictment charging 18 defendants, including school board members, administrators and contractors, with conspiracy, bribery, perjury, filing false gift reports...more

Two Months After Indictment, Medicare Fraud Mastermind and Doctor Plead Guilty

Mark Morad, the man who cooked up a $56 million Medicare fraud scheme, and his accomplice doctor pled guilty yesterday in federal court in Louisiana to various health care fraud charges....more

Second Circuit Limits Insider Trading Law for Remote Tippees

Matt Levine is a big jerk. He just sits there at Bloomberg following events in finance and securities enforcement, and then writes interesting things about those events really quickly and with insight that no one else has...more

Second Circuit Court of Appeals Issues Significant Insider Trading Ruling in U.S. v. Newman

Earlier today, the Second Circuit Court of Appeals issued its most significant ruling in an insider trading case in more than a decade. That opinion is available here. The Second Circuit vacated the criminal convictions of...more

Major Reversal of Insider Trading Convictions After Trial: Second Circuit Sets High Bar for Tippee Liability

The United States Court of Appeals today reversed the convictions for insider trading of Todd Newman and Anthony Chiasson. The Court held that the government was required to prove, but did not, that the defendants knew that...more

Corporations Need to Say the Words – “Let’s Go to Trial”

Companies are reluctant to go to trial in a criminal case. Instead, they look for alternatives short of a criminal guilty plea and DOJ has a suitcase full of options that they use....more

Hospital Executive Pleads Guilty to False Meaningful Use Attestation for EHR Incentive Payments

The former CFO of Shelby Regional Medical Center, Joe White, pleaded guilty to knowingly making a false statement related to the hospital’s meaningful use of electronic health records (“EHR”). Shelby Regional had received...more

Vascular Solutions Inc. and its CEO Face Criminal Charges for Selling Unapproved Medical Devices

Last week, the Civil Division of the U.S. Department of Justice (DOJ) filed an indictment charging Vascular Solutions Inc. (VSI) and its CEO Howard Root with (1) selling medical devices without the approval of the U.S. Food...more

Vascular Solutions Indicted

The Star Tribune reports that a federal grand jury indicted Howard Root, CEO of Vascular Solutions, Inc. (VSI), on one felony count of conspiracy and eight misdemeanor charges of selling unapproved and adulterated medical...more

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