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Business News Digest – April 2014

In this issue: - Cybersecurity Assessments – Using the Tool Well - A SOX in the Gut: Supreme Court Vastly Expands Workplace "Whistleblower" Law - SEC to Scrutinize Never-Examined Investment...more

White Collar Watch - March 2014

In This Issue: - SEC at odds with Siemens over whether whistleblower protections extend to employees who report wrongdoing directly to their companies - Fourth Circuit decision tolling False Claims Act statute...more

Madoff Verdicts Show the Risks of Staying Silent

After the revelation in 2008 that Bernard Madoff’s “wealth management” business was actually a colossal Ponzi scheme, Madoff’s victims and the public immediately asked: “Who else in the Madoff organization knew and, if they...more

Big Payout Rings Bank of America Fraud Trial

Money, not morality, is the principle commerce of civilized nations. - Thomas Jefferson - Edward O'Donnell, a former executive at Countrywide Financial, Inc., may collect up to $1.6 million under an almost forgotten...more

Second Circuit Reinforces High Pleading Burden for Director Duty of Oversight Claims

In Welch v. Havenstein, No. 13-2648-cv, 2014 WL 322055 (2d Cir. Jan. 30, 2014) (summary order), aff’g In re SAIC Inc. Derivative Litigation, 948 F. Supp. 2d 366 (S.D.N.Y. 2013), the United States Court of Appeals for the...more

District Court Denies Summary Judgment On Internal Audit/SOX Administrator’s Whistleblower Claim

In denying a bank’s bid for summary judgment on an Internal Audit and SOX Administrator’s SOX whistleblower claim, the U.S. District Court for the Western District of Washington highlighted the present conflict on the...more

“The World’s Largest Ponzi Scheme”

Regarding my last post on whistleblowers and tipsters at the SEC, I wanted to make one more related point. Many people like to yell at the SEC for not grasping the gravity of Harry Markopolos’s complaints about Bernie...more

False Claim Act: 2013 Year in Review

Last year continued the trend of robust False Claims Act (FCA) enforcement by the U.S. Department of Justice (DOJ) and proliferating qui tam lawsuits brought by whistleblowers on behalf of the United States. In 2012, DOJ...more

The Financial Report - Volume 3, No. 1 • January 2014 (Global)

Invariably, the end of a calendar year brings “year-in-review” retrospectives on topics both major and mundane. Similarly, the start of a new calendar year is always accompanied by predictions and forecasts for the ensuing 12...more

Focus on Tax Controversy - December 2013

In This Issue: A Decade of Lessons Learned from State Tax False Claims Act Cases; Second Circuit Reaffirms Taxpayer’s Use of Protective Refund Claims; and Challenging Regulations After Mayo and Home...more

Immigration Fraud Whistleblower Likely to receive a $5M Bounty from Infosys’s $34M False Claims Act Settlement: Is Your Business...

On October 30, 2013, Infosys Limited (“Infosys”), an Indian IT company, signed a settlement agreement with the United States in the Eastern District of Texas to resolve allegations that Infosys knowingly presented to...more

SEC Issues Latest Whistleblower Award for $150K

On October 30, the Securities and Exchange Commission announced an award of nearly $150,000 to an unnamed whistleblower whose tips helped the agency stop a scheme that was defrauding investors. The tips provided by the...more

Credit Crunch Digest -- October 2013

This issue of the Credit Crunch Digest focuses on the indictment of former ICAP employees for rate fixing of the yen Libor; a new lawsuit filed against global banks for their involvement in Libor manipulation schemes; a...more

District Court Dismisses Whistleblower’s Medicaid Fraud Allegations Against Quest and LabCorp

The U.S. District Court for the Eastern District of Virginia granted Quest Diagnostics Inc.’s (Quest’s) Motion to Dismiss a whistleblower lawsuit under the Virginia Fraud Against Taxpayers Act and the federal False Claims Act...more

Supreme Court Considers Review of Two False Claims Act Whistleblower Suits

The Supreme Court is considering whether to hear two whistleblower cases under the False Claims Act (“FCA”), both on appeal from the Fourth Circuit. The Supreme Court has asked the U.S. Solicitor General to weigh in before...more

Supreme Court May Decide Issue of the Level of Specificity Required Under Rule 9(b) in FCA Whistleblower Suits

The United States Supreme Court recently indicated its potential interest in hearing arguments in a key False Claims Act (FCA) case that would address a circuit split over the important issue of the level of specificity of...more

Citigroup Whistleblower Won’t Give Up

Whistleblower Richard M. Bowen III told The New York Times he plans to “leave this country better off than the way I found it.” He refuses to be muzzled about the financial fraud that led to the multibillion dollar taxpayer...more

Two Employees Blow the Whistle on Warner Chilcott

Two former Warner Chilcott sales representatives, Lisa Alexander and James Goan, have blown the whistle with a bundle of allegations, including illegal marketing tricks, kickbacks and privacy violations. Federal laws and...more

Serial Relator Getting the Boot?

This past Friday, hospital company HCA Holdings, Inc. asked a federal court judge to dismiss a False Claims Act (FCA) suit filed by whistleblower and former employee, Stephen McMullen. Mr. McMullen worked for an...more

Fifth Circuit’s Recent Dodd-Frank Whistleblower Ruling May Benefit Employers

In Brief - Decision contradicts regulatory guidance from the Securities and Exchange Commission and raises the prospect of employers facing fewer frivolous anti-retaliation lawsuits....more

Blowing the Whistle and Nobody Hears

When a person assumes the role of a whistleblower to stop the illegal and fraudulent activity of a corporation or governmental agency, it is understood that there may be harsh retaliatory acts taken by the violating...more

Paying for Family Vacations With NIH Funds Triggers FCA Lawsuit and Settlement

Northwestern University will pay $2.93 million to settle a federal False Claims Act (FCA) lawsuit brought by a former employee who alleged Northwestern allowed a researcher to submit false claims under certain cancer research...more

Whistleblowing with The False Claims Act

The top 30 False Claims Act settlements of 2012 totaled $9,094,474,000. Initiated by whistleblowers, the top three settlements involved $3 billion from GlaxoSmithKline for illegal marketing of prescription drugs, $1.5 billion...more

Quicky medical-legal exams – How common? How costly to personal injury claims?

We have been following a fascinating and well-written series of articles by New York State attorney Eric Turkewitz, about the ongoing case of a New York orthopedist accused of perjury for lying on the stand about the duration...more

Tenth Circuit Broadens Whistleblower Protection Under SOX

In a recent decision, the United States Court of Appeals for the Tenth Circuit broadened the types of claims that may be recognized under the anti-retaliation provisions of the Sarbanes-Oxley Act. Lockheed Martin Corp. v....more

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