Settlement

News & Analysis as of

Out Of Control: SEC Says Lack Of Internal Controls Led To HP Paying More Than $108 Million To Settle FCPA Actions

On April 9, 2014, the Securities and Exchange Commission announced that Hewlett-Packard had agreed to pay more than $108 million to settle Foreign Corrupt Practices Act actions brought by the SEC and the Department of...more

Upper Chesapeake Health System to Pay $180,000 to Settle EEOC Disability Discrimination Lawsuit

Health Care System Unlawfully Fired Employee Because of Vision/Hearing Impairment and to Punish Her for Seeking Accommodation, Federal Agency Charged - BALTIMORE - Upper Chesapeake Health System, Inc., a leading health...more

Orrick's Financial Industry Week in Review - April 14, 2014

Agencies Apply Increased Leverage Ratio to Large U.S. Banks - On April 8, the Fed, FDIC and OCC adopted the final rule to increase the leverage ratio for the largest U.S. banks. The final rule applies to U.S. bank...more

Daughter’s Facebook Post Leads to Costly Breach by Father of a Confidentiality Clause in His Settlement Agreement With Former...

A recent decision by a Florida appeals court, Gulliver Schools, Inc. v. Snay, stands as a stark reminder of the perils of trying to maintain confidentiality in the age of social media where news can travel faster than the...more

Breach of Confidentiality Clause Leads to Disgorgement of Settlement

In this employment termination case, plaintiff Snay (a school principal), and Defendant, Gulliver (the school), settled and agreed to keep the settlement confidential. Four days after the parties signed the settlement...more

Focus on Tax Controversy and Litigation - Supreme Court Decides Woods v. Commissioner, Holds for IRS on Jurisdictional and...

In this issue: - US Supreme Court Imposes Valuation-Misstatement Penalty in TEFRA Proceeding - Southern District of New York holds Cooperation with Government Waives Attorney-Client Privilege - IRS Issues...more

A Million Dollars In Fees For Class Counsel in Wachovia/Wells Fargo Merger Lawsuit

When I first looked at Judge Murphy's (unpublished) Order in Ehrenhaus v. Baker earlier this month awarding attorneys' fees to the class action attorneys who sued Wachovia and Wells Fargo over their merger in 2008, I was...more

Asbestos Alert: Paulus v Crane Co.

Second District Court of Appeal, Division Three, Action # B246505 (Filed Feb. 21, 2014, modified Mar. 24, 2014) 2014 WL 1157284 ____Cal.App.4th____ - Sufficiency of Expert Testimony to Prove Causation; Bankruptcy Trust...more

District Court Upholds Controversial Settlement Agreements Between U.S. Fish And Wildlife Service And Environmental Groups

This week, the United States District Court for the District of Columbia upheld two settlement agreements – one between the U.S. Fish and Wildlife Service (Service) and WildEarth Guardians, and the other between the Service...more

TVM Update: Coloplast in talks to Settle for $16 Million

Transvaginal mesh maker Coloplast A/S (In Re: Coloplast Corp Pelvic Support System Products Liability Litigation, 12-md-2387, U.S. District Court, Southern District of West Virginia) is said to be in talks to settle a basket...more

Illinois Tightens Settlement Procedures

We have all experienced the frustration of having negotiated an acceptable settlement recovery after years of loss investigation and discovery, only to have the settling defendant drag its heels in terms of proffering a...more

Credit Crunch Digest

This issue of the Credit Crunch Digest focuses on recent developments in Libor and the Foreign Exchange market litigation; Credit Suisse’s $885 million mortgage settlement with the Federal Housing Finance Agency; Irving...more

GM’s Billion Dollar Week In Washington

Two weeks ago, Toyota agreed to a record $1.2 billion settlement with U.S. regulators for the company’s alleged mishandling of its recall during its unintended acceleration crisis. Now it’s General Motors’ turn under the...more

Institution Decisions on April 1, 2014

In Crocus Technology S.A. v. New York University, IPR2013-00047, Paper 8 (April 1, 2014) the Board instituted a trial as to claims 1-12, 14-20, 22-31, and 33-35 of U.S. Patent No. 6,980,469, but not as to claims 13 and 32....more

“Neither Admit nor Deny” Settlements at the SEC

In January 2012, the SEC announced that it would vary from its well-established practice of settling with defendants and respondents on a neither admit nor deny basis. The change has affected only matters in which defendants...more

March 2014: Class Action Litigation Update

Cy pres disbursements have become a popular feature of class action settlement agreements, but given the recent denial of certiorari in Marek v. Lane, Supreme Court guidance in the law of cy pres will have to wait until...more

First HIPAA Settlement with County Government

On March 6, 2014, the Department of Health and Human Services’ Office for Civil Rights settled potential HIPAA violations with the Skagit County Public Health Department in Washington State for $215,000. Initially, OCR’s...more

OSC Adopts New Initiatives to Strengthen Enforcement

On March 11, 2014, the Ontario Securities Commission (OSC) issued Staff Notice 15-702 – Revised Credit for Cooperation Program (Staff Notice 15-702). Staff Notice 15-702 carries forward various existing codified or informal...more

BAC CEO Pays $10 Million Plus D&O Bar To Settle NYAG Market Crisis Case

Former Bank of America CEO Kenneth Lewis agreed to pay $10 million and to be barred from serving as an officer or director of a public company for three years to settle fraud charges brought by the New York Attorney General...more

Introduction to the MDL Settlement Process

This four-part series will present a discussion on settling multidistrict litigations (“MDLs”). I will begin with Introduction to the MDL Settlement Process, followed by Best Practices for Settling, Ethical Obligations of...more

Banks Complete National Mortgage Settlement Consumer Relief Obligations

On March 18, the National Mortgage Settlement (NMS) Monitor Joseph Smith Jr., announced that four banks subject to the NMS satisfied the consumer relief and refinancing obligations established by the agreement. The monitor...more

Settlement Agreements: What if Your Former Spouse is Not Complying?

Going through the divorce process is extremely difficult. Remembering that “this too shall pass” is a mantra that clients often find helpful. Unfortunately, not all divorces end upon receiving the Final Judgment of Divorce....more

No Harm, Still Foul? Florida Court Approves Data-Breach Class Action Settlement

Data-breach class action suits may have just gained significant traction. On Feb. 28, 2014, the U.S. District Court for the Southern District of Florida approved a first of its kind class action data breach settlement that...more

Coloplast: $16 Million to Settle 400 Transvaginal Mesh Lawsuits

While it is not official, Bloomberg is reporting that Coloplast A/S, one of the smaller manufacturers of transvaginal meshes, is said to be willing to settle a number of lawsuits for $16 million....more

Daughter Posts Settlement on Facebook – Employer Dislikes – Dad in Hot Water

Social media in general, and Facebook in particular, seems to have become so ingrained in modern existence that while it is potentially laughable, it is nonetheless true that we can seriously live by the tenet “If it’s not on...more

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