News & Analysis as of

Misleading Statements

€110 million fine for Facebook by the European Commission for providing misleading information during WhatsApp merger review

by Dechert LLP on

The European Commission (“Commission”) announced on May 18, 2017, that it was fining Facebook €110 million for providing misleading or incorrect information during the review of the social network’s acquisition of WhatsApp in...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The SEC hasn’t had much luck with its attempts so far to hold MBS traders responsible for allegedly lying to customers about MBS prices. Yet on the Monday’s charges against ex-Nomura traders suggests that the agency’s not...more

More Bad News for Uber, This Time From the Southern District of California

by Carlton Fields on

Uber’s attempts to defeat a false advertising lawsuit recently failed. The Southern District of California largely denied the ride share company’s motion to dismiss and motion to strike class allegations. ...more

New York Regulators Lead the Charge to Fill Health Data Protection Gaps Left by Federal Law

by Hogan Lovells on

New York AG Settles Data Protection Enforcement Against Mobile Health Apps - After a year-long investigation into mobile health apps claiming to be able to measure vital signs or health indicators through smartphone...more

SEC Brings Post-MCDC Enforcement Actions Against Underwriter and Officials

On April 5, 2017 the SEC released two orders instituting cease-and-desist proceedings (consent decrees) which are the first post-MCDC cases finding securities law violations based on misstatements in official statements...more

Mobile Health App Developers Under Fire for Misleading Claims and Irresponsible Privacy Practices

by Dechert LLP on

Mobile health apps are becoming more and more popular as a tool for consumers in maintaining healthy lifestyles. However, there is a growing concern that the health-related benefits are being over-stated by mobile health app...more

Misstated Summons Did Not Create FDCPA Violation

A summons which stated the consumer had thirty days to answer a debt collection suit did not violate the FDCPA when the state rules of civil procedure only provided for twenty days. In Bryant v. Kass Shuler, P.A., the...more

U.S. Supreme Court To Consider Registrant's Liability For Non-Disclosure Under Item 303 Of Regulation S-K

by Shearman & Sterling LLP on

On March 27, 2017, the United States Supreme Court granted a petition for a writ of certiorari to resolve a circuit split on whether corporate issuers’ disclosure obligation under Item 303 of S.E.C. Regulation S-K can be an...more

Investor Suits Follow in the Wake of Western Union Settlement of Money Laundering and Fraud Claims

by Ballard Spahr LLP on

On January 19, 2017, the Western Union Company (“Western Union” or the “Company”) entered into a deferred prosecution agreement (“DPA”) with the Department of Justice (“DOJ”), in which Western Union admitted to willful...more

Food and Beverage Law Update: March 2017

by Holland & Knight LLP on

Legalized Drug Use Impacts the Food and Beverage Industry - In the November 2016 general election, voters in Arkansas, Florida and North Dakota amended their state constitutions to authorize the use of marijuana for...more

Have You Been Sued By XMission?

by Klein Moynihan Turco LLP on

We are witnessing a spike in both federal and state unsolicited commercial email lawsuits across the country. In particular, many suits have been filed in the Utah federal district courts by XMission, L.C. (“XMission”), a...more

National Debt Relief Provider Reaches $9 Million Settlement with FTC for Deceptive Solicitations

by Goodwin on

On March 7, the Federal Trade Commission (FTC) announced that the United States District Court for the Eastern District of Texas entered a stipulated order prohibiting a national debt relief provider from making misleading...more

Advertising Law - February 2017 #4

Not-So-Smart TV: Vizio Settles Over Data Collection - For installing software on smart TVs and collecting viewing data on 11 million consumers without their knowledge or consent, Vizio, Inc. will pay the Federal Trade...more

Unfair Commercial Practices: The European Court of Justice Specifies Criteria for Comparative Advertising

by McDermott Will & Emery on

On 8 February 2017, the European Court of Justice (ECJ) handed down a judgment on a reference for a preliminary ruling stating that comparative advertising can be misleading if consumers are not provided with information on...more

Higher Mitigation of Fines Due to Prompt Implementation of Measures Addressing Authority’s Concerns in Unfair Commercial Practices...

by McDermott Will & Emery on

In a decision published on 10 February 2017, imposing Samsung Electronics Italia S.p.A. (“Samsung”) fines totaling € 3.1 million for alleged aggressive unfair commercial practices, the Italian Competition Authority (the...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Three of the six actions filed this week by the Commission were against registered investment advisers. One involved the misappropriation of funds, another centered on the failure to disclose a related party transaction and a...more

California Environmental Law & Policy Update - February 2017

by Allen Matkins on

Environmental and Policy Focus - Trump Administration proposes rule requiring deletion of two regulations for every new regulation adopted - Washington Post - Jan 30 - President Trump signed an order...more

FTC Settles False Advertising Action Against Breathometer, Inc.

by Klein Moynihan Turco LLP on

On Monday, the Federal Trade Commission (“FTC”) announced that it had settled claims against the marketer of two app-supported smartphone accessories allegedly advertised as having the ability to accurately measure a...more

Chris Lazarini Provides Insight on Application of Scienter in Securities Exchange Act Claim - Thought Leadership - Bass Berry

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on case in which class plaintiffs allege certain company officers knowingly made misleading statements about a drug's potential adverse effects which, when later...more

Food and Beverage News and Trends - November 2016 #3

by DLA Piper on

Krispy Kreme faces suit over content of donuts. A federal lawsuit filed on November 9 against Krispy Kreme alleges that the donut company is falsely advertising the ingredients of its fruit-filled and maple-glazed donuts. In...more

Hong Kong Securities Laws Violations: The SFC’s Extra-Territorial Reach – Part 2 (U.S. short-seller found culpable of market...

by Dorsey & Whitney LLP on

Hong Kong’s Market Misconduct Tribunal (the "MMT") has found U.S.-based Andrew Edward Left culpable of market misconduct in connection with his research report (“Left’s report”), published on June 21, 2012 on a U.S.-based...more

Shell Pays Big for Double Dipping with the UST Fund

Last week, the California State Water Resources Control Board (State Water Board) announced that it permanently banned 100 of Shell Oil Company’s underground storage tank (UST) claims from the California UST Cleanup Fund...more

IP Newsletter - Superintendency of Industry and Commerce orders TV advertisement pulled for unsupported claims

by Dentons on

Colombia's Superintendency of Industry and Commerce, in Resolution 59176 of 2016, issued an order that the Colombian Association of Consumer Education cease airing a TV advertisement that contained misleading statements about...more

UK Regulator Bans Sole Trader Investment Business from the UK Financial Services Industry  

by Shearman & Sterling LLP on

The FCA concluded that Ms. Parry’s actions amounted to a failure to act with integrity and were therefore in contravention of Statement of Principle 1 of the FCA’s Statements of Principle. Furthermore, the FCA concluded that...more

Not So Sweet: The Debate Over Evaporated Cane Juice

by Pepper Hamilton LLP on

FDA’s final guidance expresses its view that the phrase “evaporated cane juice” is false and misleading. “Evaporated cane juice” has become a popular ingredient in everything from yogurt to cookies, attracting consumers...more

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