News & Analysis as of

Key Takeaways: Fourth Annual Seminar for Pharmaceutical, Biotechnology and Medical Device Companies

On October 5, 2016, Skadden hosted its Fourth Annual Seminar for Pharmaceutical, Biotechnology and Medical Device Companies. The seminar focused on the current and developing challenges facing such companies and included...more

District Court Upholds Indictment of Turkish/Iranian Billionaire Charged with Evading US Economic Sanctions against Iran

U.S. District Court Judge Richard M. Berman denied a motion to dismiss the indictment in the closely followed criminal prosecution of Reza Zarrab, a Turkish/Iranian businessman charged with conspiring to evade U.S. economic...more

Fifth Circuit Affirms False Claims Act’s Anti-Retaliation Provision Cannot Be Used Against Individuals Who Did Not Employ...

On July 1, 2016, the Fifth Circuit affirmed the district Court’s dismissal of Plaintiff’s False Claims Act (“FCA”) retaliation claim against all individual defendants in the case. In Howell v. Town of Ball, 827 F.3d 515, 521...more

Double-Breasted Company Owners, Officers Can Be Indicted for Underpaying Benefit Contributions

The U.S. District Court for the District of Massachusetts held in September that the shareholders and officers of a double-breasted construction company can be indicted and could go to prison if the government proves they...more

Bridging the Week - September 2016 #4

Ex-Airline Employee Sued by CFTC for Insider Trading of Futures Based on Misappropriated Information: The Commodity Futures Trading Commission brought and settled charges against Jon Ruggles, a former trader for Delta...more

Criminal Liability for Failure to Contribute to Multiemployer Benefit Fund?

The precarious financial status of some multiemployer benefit funds has led to criminal indictment against non-contributors. This troubling expansion of potential sanctions for failure to make required contributions to...more

Bitcoin Again Held to Be “Funds” for Federal Money Transmitting Purposes

Murgio decision reflects a growing judicial consensus around the application of money transmitting laws to Bitcoin exchangers. On September 19, 2016, U.S. District Judge Alison J. Nathan of the Southern District of New...more

Being a Returned Fugitive from Justice May Not Be the Worst Thing

But don’t flee justice! This is not legal advice to you, but I really don’t mean to recommend avoiding problems with federal prosecutors by going to other countries where it’s hard for those prosecutors to catch up with you....more

When It Absolutely, Positively Has to Be Indicted Overnight: How to Prevent Future Debacles Like the FedEx Prosecution

Against the backdrop of years of unprecedented monetary penalties imposed through DOJ civil settlements and deferred prosecution agreements with financial institutions embroiled in the 2008 financial meltdown, the DOJ came...more

CEO of World Trade Center contractor found guilty of fraud by misstating compliance with Port Authority’s minority- and...

Public entities at the Federal, state, and local levels set aside contracting opportunities, provide preferential price treatment, or otherwise grant favorable treatment to contractors (1) owned by veterans, women,...more

Criminal Charges Brought in $1 Billion Alleged Medicare Fraud Scheme

If the June 2016 nationwide Medicare fraud takedown was not a sufficient indicator, today’s announcement that the U.S. Department of Justice (DOJ) has filed criminal charges against three Florida individuals alleging more...more

Clinton’s e-mails and a Lesson in Prosecutorial Discretion

“Although there is evidence of potential violations of the statutes regarding the handling of classified information, our judgment is that no reasonable prosecutor would bring such a case” Statement by FBI Director James...more

The Ninth Circuit Addresses the Scope of the Computer Fraud and Abuse Act

This week, the Ninth Circuit clarified the scope of the Computer Fraud and Abuse Act (CFAA) in upholding the defendant’s criminal conviction in United States v. David Nosal....more

The McDonnell Case: Limitations on public corruption prosecutions and a victory for the social compact of representative...

On Monday June 27, 2016, the US Supreme Court published a unanimous opinion reinforcing what is quickly becoming a contemporary trend in both public corruption and campaign finance regulation cases across the country. By...more

UK Bribery Act – 5 lessons in 5 years: No 2 – Unheard Voices

The corporate bribery offence has brought in a new age of enforcement, but at what cost to individuals who may be implicated? In the last few weeks of 2015, the enforcement landscape for corporate entities carrying on...more

This Week In Securities Litigation

The elements of an insider trading claim continued to be a key focus this week. The first circuit, following prior circuit precedent, held that a personal benefit based on a long term friendship and a steak dinner was...more

Court Slams DOJ By Dismissing The Majority Of Indictment Against Fedex – Rules The Defense Does Not Have A Duty To Correct DOJ’s...

In the ambitious and novel federal criminal prosecution of FedEx for alleged drug distribution conspiracy, Judge Charles R. Breyer recently ruled that defense counsel has no duty to correct government’s mistakes when...more

When Steak and a Massage Equals Insider Trading

Is “wine, steak, and visits to a massage parlor” a quid pro quo personal benefit which, if received in conjunction the dissemination of material, non-public information, is sufficient to establish a breach of duty for illegal...more

Big Pharma flooded West Virginia with millions of addictive pain-killing pills

Big Pharma should hang its head in shame over recent revelations of its nasty role in inundating rural West Virginia with tens of millions of prescription painkillers. So many pills were shipped in that every man, woman, and...more

Pro-Golfer Phil Mickelson Pays $1M to SEC to Settle Civil Insider Trading Claims, But Escapes Criminal Charges in Light of Newman

On Thursday, May 19, 2016, the U.S. Attorney’s Office for the Southern District of New York announced the arrest of renowned sports bettor William “Billy” T. Walters on an alleged years-long insider trading scheme conducted...more

California Environmental Law & Policy Update - May 2016 #3

Environmental and Policy Focus - In sharp reversal, California suspends mandatory water restrictions - New York Times - May 18 - The State Water Resources Control Board (SWRCB) on Wednesday suspended its...more

DOJ Takes On Tribal Lending: Inside The Indictments

In recent months, the attention of the tribal lending industry has focused on the Consumer Financial Protection Bureau’s emerging role in regulating short-term loans from sovereign tribal nations, but a new and even more...more

Like Santa Claus, the IRS Keeps a List of Who Has Been Naughty or Nice: It Is the Time of Year When the IRS’s Naughty List Gets...

Every year, around the April 15 individual tax return filing deadline, a story appears in the press highlighting the tax woes of famous people. The Government undoubtedly issues these press releases to encourage taxpayers to...more

FBI’s cyber most wanted: Spotlight on Firas Dardar and Ahmed Agha

New additions to the FBI’s Cyber’s Most Wanted List show “the line between ordinary criminal hackers and potential national security threats is increasingly blurry,” according to Assistant Attorney General for National...more

CJEU to Rule on Extradition of EU Citizens in Criminal Antitrust Proceedings

The first European citizen to be extradited from Europe to the United States for criminal antitrust conduct recently succeeded in having a Berlin court refer the matter of his extradition to the Court of Justice of the...more

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