News & Analysis as of

Civil Monetary Penalty Permanent Injunctions

Cozen O'Connor

FTC and Florida AG Put the Brakes on Alleged “Trucking Automation” Investment Scheme

Cozen O'Connor on

The FTC and Florida AG Ashley Moody obtained a temporary restraining order against RivX Automation Corp., and affiliated entities and individuals (collectively, “RivX”) for allegedly making false or unsubstantiated earnings...more

Fenwick & West LLP

SEC v. Ripple Decision Makes Waves in Digital Assets Enforcement

Fenwick & West LLP on

On August 7, 2024, nearly four years after the SEC filed its complaint alleging Ripple sold XRP in unregistered securities transactions in violation of Section 5 of the Securities Act, the district court issued its final...more

BakerHostetler

Ripple Case Reaches Final Judgment as Digital Assets Law Continues to Evolve

BakerHostetler on

On Aug. 7, the U.S. District Court for the Southern District of New York issued its judgment in U.S. Securities and Exchange Commission v. Ripple Labs, Inc., marking the end of district court- level proceedings in the highly...more

Seward & Kissel LLP

SEC Charges Adviser and its Principal in Illegal Short Selling Scheme

Seward & Kissel LLP on

Who may be interested: Investment advisers, broker-dealers. Quick Take: The SEC recently filed a lawsuit charging an investment adviser and its managing partner (collectively, the Adviser) with allegedly engaging in a...more

Wyrick Robbins Yates & Ponton LLP

Glow Up or Blow Up: Five Takeaways from the CCPA Enforcement Action Against Sephora

As we discussed last year, the California Attorney General’s Office (“OAG”) has been wielding its enforcement authority under the California Consumer Privacy Act since the law became enforceable in July 2020.  But for two...more

Sheppard Mullin Richter & Hampton LLP

CFPB Sues Credit Reporting Agency and Former Senior Executive

On April 12, the CFPB filed a complaint against a credit reporting agency (CRA), two of its subsidiaries, and a former senior executive for violating a 2017 consent order issued to the company related to alleged deceptive...more

Farrell Fritz, P.C.

Herbal COVID Remedy Is Not The Government’s Cup of Tea

Farrell Fritz, P.C. on

Last week, the EDNY and the DOJ Consumer Protection Branch brought a civil enforcement action against defendants who manufacture and sell an herbal tea product called B4B Earth Tea Extra Strength (“Earth Tea”).  Earth Tea...more

Perkins Coie

Fintech Legal Report - September 2021 #2

Perkins Coie on

House Financial Services Committee Discusses Consumer Rights to Access Personal Financial Data - On September 21, 2021, the House Committee of Financial Services Task Force on Financial Technology held a hybrid hearing...more

Winstead PC

SEC Charges Case Featuring Alleged Wash Sales Involving Options of “Meme Stocks”

Winstead PC on

The United States Securities and Exchange Commission recently charged two individuals— Florida residents, Suyun Gu, and his friend, Yong Lee—for their involvement in allegedly fraudulent wash sales involving out-of-the-money...more

ArentFox Schiff

Investigations Newsletter: SEC Charges Cannabis Pill Company with $2 Million Securities Fraud

ArentFox Schiff on

SEC Charges Cannabis Pill Company with $2 Million Securities Fraud - On September 28, 2021, the Securities and Exchange Commission (“SEC”) charged a California-based cannabis company C3 International, Inc. (“C3”) and its...more

Sheppard Mullin Richter & Hampton LLP

FTC Takes Novel Approach to Seek Civil Money Penalties in the Wake of AMG Capital Ruling

On June 10, the Federal Trade Commission (FTC) filed an amended complaint for civil money penalties and other relief under Section 5 of the FTC Act prohibiting “unfair or deceptive acts or practices” and Section 521 of the...more

Goodwin

FTC Announces $30 Million Settlement with Operator of For-Profit Post-Secondary Schools

Goodwin on

On August 27, 2019, the Federal Trade Commission (FTC) announced it had reached a $30 million settlement with an Illinois-based operator of for-profit post-secondary schools and related subsidiaries resolving allegations that...more

Dechert LLP

Fresh Air and Fresh Start: Are Environmental Regulatory Penalties Dischargeable?

Dechert LLP on

Two courts recently answered “yes,” finding that environmental claims brought against reorganized debtors by government entities were discharged under confirmed Chapter 11 plans of reorganization. In In re Exide Techs., 613...more

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2020)

Hudson Cook, LLP on

This survey summarizes several recent developments affecting bank deposits and payment systems. These include payments-related consent orders and enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) and...more

Hogan Lovells

CFTC charges Colorado man with fraud in digital asset-linked Ponzi scheme

Hogan Lovells on

The U.S. Commodity Futures Trading Commission (CFTC) has charged a man from Colorado with fraud and failing to register with it in respect of a scheme that involved Ponzi-type payments....more

Jones Day

Seventh Circuit Curtails FTC's Authority to Seek Restitution

Jones Day on

The Situation: Overruling its precedent, the United States Court of Appeals for the Seventh Circuit held that the Federal Trade Commission ("FTC") may not seek restitution under FTC Act Section 13(b) because the statute,...more

Eversheds Sutherland (US) LLP

Legal Alert: DOJ and CFTC team up on spoofing enforcement

On September 16, 2019, the US Department of Justice (DOJ) indicted three precious metals traders for allegedly violating six criminal statutes, including the Racketeer Influenced and Corrupt Organizations Act...more

K&L Gates LLP

K&L Gates Triage: Recent Developments Impacting Drug Pricing and the 340B Program: Part 2

K&L Gates LLP on

In Part Two of this two-part series on recent developments in pharmacy law and the 340B drug pricing program, Richard Church and Ryan Severson discuss several recent developments related to the 340B drug pricing program,...more

A&O Shearman

Criminal And Civil Charges Filed In Connection With Initial Coin Offering By Centra Tech

A&O Shearman on

On April 2, 2018, the U.S. Department of Justice (“DOJ”) and Securities Exchange Commission (“SEC”) announced criminal and civil charges against two startup co-founders for allegedly defrauding and conspiring to defraud...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Hazardous Waste Enforcement: State of California and Home Depot U.S.A., Inc. Stipulation for Entry of Final Judgment/Permanent...

The California Attorney General (“AG”) announced a settlement with Home Depot U.S.A., Inc. (“Home Depot”) addressing alleged violations of: California Hazardous Waste Control Law...more

BCLP

Don’t Get TARRed: FTC Continues to Scrutinize Misleading Marketing and Sales Methods

BCLP on

The Federal Trade Commission has taken Tarr, Inc. and 18 other entities to task for fake news, unsubstantiated advertising claims, and fake celebrity endorsements. A stipulated order for permanent injunction and monetary...more

Goodwin

Arizona AG Obtains Judgment and Injunction Against Mortgage Relief Operation

Goodwin on

On July 27, 2017, the Arizona Attorney General’s Office (Arizona AG) announced that it had obtained a judgment? against an allegedly fraudulent mortgage relief company and its owner. The company is alleged to have targeted...more

Ballard Spahr LLP

CFPB files complaint alleging defendants ran unlawful debt relief operation

Ballard Spahr LLP on

The CFPB has filed a complaint in a California federal district court against three law firms and two individual attorneys alleging that they offered debt relief services to consumers in violation of the Telemarketing Sales...more

Goodwin

Former Debt Collection Company VP Ordered to Pay Penalty and Stop Deceptive Debt Collection Practices

Goodwin on

On September 21, the Department of Justice (DOJ) announced that the U.S. District Court for the Eastern District of Texas entered a stipulated order for a permanent injunction and civil penalty judgment against the vice...more

Foley & Lardner LLP

A Compilation of Non-Enforcement and Enforcement Actions

Foley & Lardner LLP on

Non-Enforcement - Mutual Fund Directors Must Be Vigilant in Addressing Risks - In remarks to the Mutual Fund Directors Forum, SEC Chair Mary Jo White outlined some of the risks and challenges that mutual fund...more

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