News & Analysis as of

Justice Department Recovers Nearly $6 Billion From False Claims Act Cases in 2014

The U.S. Department of Justice (DOJ) obtained a record $5.69 billion in settlements and judgments from civil cases involving fraud and false claims against the government in fiscal year 2014. This marks the first time the DOJ...more

Orrick's Financial Industry Week in Review

SEC Proposes to Amend Rules Governing Its Administrative Proceedings - On September 24, the U.S. Securities and Exchange Commission (the "SEC") proposed to amend rules governing its administrative proceedings. Key...more

CA AG Requires Chief Privacy Officer and Privacy Compliance Program

California’s Attorney General, Kamala Harris, has required Houzz, a home décor information and e-commerce website and mobile app publisher, to hire a chief privacy officer (CPO), conduct a company-wide privacy assessment, and...more

Recent Settlements Signal Increased Political Law Enforcement by Government Officials

The U.S. government reached settlements with two federal lobbyist registrants recently in what appears to signal increased enforcement of political activity laws. On August 28, 2015, the U.S. Attorney’s Office for the...more

BREAKING: Young And UPS Settle Pregnancy Lawsuit

Law360 reported this morning that Peggy Young and United Parcel Service have settled their pregnancy discrimination/accommodation case that went to the Supreme Court, resulting in this decision from last March. The Supreme...more

SEC’s Hitachi Enforcement Action and Important Compliance Reminders

The SEC continues to plug away at aggressive FCPA enforcement. This year, at least so far, the SEC has had a very successful year. The Hitachi case is a very interesting enforcement action for several major reasons. ...more

Blog: Are Companies Now Quicker To Settle With Hedge Fund Activists?

According to data collected by Reuters, companies are settling with hedge fund activists “at the fastest pace since the financial crisis. The average number of days it takes companies to reach a settlement with activists...more

California Attorney General Targets Prop. 65 Plaintiffs’ Settlement Terms

The California Office of the Attorney General is seeking to limit certain payment provisions common in Prop. 65 plaintiffs’ settlements with defendants. The proposed rulemaking, published September 25, 2015, would limit the...more

Appellate Court Notes

Appellate Court Advance Release Opinions: AC36390 - Folsom v. Zoning Board of Appeals - Trial court properly granted a motion to strike a direct lawsuit by a disgruntled neighbor against the Town Zoning Enforcement...more

Sierra Academy of Aeronautics Voluntarily Settles EEOC Pregnancy Charge for $60,000

FRESNO, Calif. - An international flight institution, KS Aviation, dba Sierra Academy of Aeronautics, headquartered and operated out of Atwater, Calif., will pay $60,000 to settle a pregnancy discrimination charge filed with...more

SEC Announces First Cybersecurity Enforcement Action Against an Investment Adviser for Failure to Protect Client Data

On September 22, 2015, the Securities and Exchange Commission (SEC) announced its first cybersecurity-related enforcement action against an investment adviser for failure to protect customer records and information. According...more

Five Settle Insider Trading Charges with SEC

The SEC filed a settled insider trading case which names as defendants two attorneys, an accountant and two other individuals. The action is based on information misappropriated from a corporate director by his personal...more

Time Warner-EEOC Settlement Provides a Cautionary Tale to Employers Who Provide Mothers More Parental Leave Than Fathers

I recently read in the NY Times that the Equal Employment Opportunity Commission settled a charge with Time Warner, Inc., the parent company of CNN and Turner Broadcasting System, Inc. where a former employee alleged that...more

Mannix v. PlasmaNet, Inc., C.A. No. 10502-CB (Del. Ch. July 21, 2015) (Bouchard, C.)

In this memorandum opinion, the Court of Chancery granted a motion to dismiss and approved a settlement whereby certain former stockholders would dismiss their appraisal demands in exchange for shares of the surviving...more

In re Riverbed: The Beginning of the End for Disclosure-Only Settlements in M&A Cases?

The past decade has seen an incredible rise in M&A litigation. According to Cornerstone, in 2014, a whopping 93% of announced mergers valued over $100 million were subject to litigation, up from 44% in 2007. As Delaware...more

Cancel My Reservation! Pennsylvania Sows Confusion Over Consent-to-Settle Clauses

This summer, the Supreme Court of Pennsylvania addressed an important question that has divided other courts: if an insurer defends a claim subject to a reservation of rights, may the insured settle the claim without the...more

SEC Announces Cybersecurity Enforcement Action

On September 22, 2015, the Securities and Exchange Commission (SEC) announced the settlement of an enforcement action against a St. Louis-based registered investment adviser (Adviser) brought under Rule 30(a) of Regulation...more

SEC Charges Investment Adviser with Failure to Adopt Required Cybersecurity Policies Prior to Breach

On September 22, the Securities and Exchange Commission (SEC) announced that it had entered into a settlement order with R.T. Jones Capital Equities Management, Inc. (R.T. Jones), a St. Louis-based SEC registered investment...more

Ten Things Class Action Practitioners Need To Know About Potential Amendments To Federal Rule Of Civil Procedure 23

Rule 23 may be in for some major changes. The Advisory Committee has commissioned a Rule 23 subcommittee to investigate possible revisions to the class action rules. That subcommittee issued a report (pdf) discussing its...more

EEOC and Cabela’s Enter Into a Settlement in Collaborative Effort to Improve Hiring and Recruiting Practices

Agency Commends Employer for Cooperative Efforts During Investigation and Collaborative Efforts to Improve Hiring of Minority Applicants - CHICAGO - Cabela's Incorporated, a leading retailer of fishing, camping, and...more

EEOC Sues Muskegon Family Care for Disability Discrimination

Medical Provider Fired Employee with a Disability, Federal Agency Charges - DETROIT - Muskegon Family Care, a medical services provider located in Muskegon, Heights, MI, violated federal law by firing an employee due to...more

Tucson-Area Trucking Company CTI to Pay $300,000 to Settle EEOC Disability Discrimination Lawsuit

Company Failed to Provide a Reasonable Accommodation to Class of Individuals with Disabilities Federal Agency Charged - PHOENIX - CTI, Inc., a Tucson-area regional trucking company, will pay $300,000 and furnish other...more

Adventist to Pay $118.7 Million Settlement in Whistleblower Lawsuit

On Monday, September 21, 2015, the Department of Justice announced a settlement with Florida-based Adventist Healthcare, whereby the company will pay $118.7 million to settle a whistleblower lawsuit. $115 million, the bulk of...more

CPSC Snapshot: CPSC Multimillion Dollar Penalty With a Twist

Earlier this month, the CPSC announced an agreement to yet another multi-million dollar settlement. However, in an unusual course of conduct, the CSPC agreed to suspend all but $200,000 of the penalty based on the company’s...more

Setting the Record Straighter

Recently, Professor Jeff Sovern sent an email to the editor of the Consumer Financial Services Law Report commenting on an article we published in the August 9, 2015 issue of the Report titled, “CFPB Makes Consumer...more

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