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The Volkov Law Group

Avoiding Compliance Overkill — Properly Assess and Manage Tangible Risks

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The uptick in recent sanctions activity caused in large part by the Russian Federation’s unprovoked and unilateral invasion of Ukraine has caused absolute pandemonium in many compliance circles. While the U.S. Department of...more

Proskauer - Minding Your Business

Price Gouging Updates: Federal Price Gouging Legislation; Addressing Infant Formula Shortages; Resolution of Online Merchants...

Two federal price gouging bills were recently introduced in Congress. Senator Elizabeth Warren led the introduction of the Price Gouging Prevention Act of 2022. The bill prohibits “unconscionably excessive price[s]” at any...more

The Volkov Law Group

Global Logistics Company Settles OFAC Violations for $6.1 Million

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You have to wonder how OFAC has the time to investigate and settle cases given its significant work implementing the Russia Sanctions Program.  But OFAC continues to demonstrate its commitment to aggressive enforcement. ...more

The Volkov Law Group

OFAC Implements New Ethiopia Sanctions Program

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On November 12, 2021, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), pursuant to Executive Order 14046, Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights...more

Proskauer - Minding Your Business

What the Omicron Variety Could Mean For Price Gouging Enforcement in New York

New York Governor Kathy Hochul has declared a disaster emergency for the state through January 15, 2022 in the wake of rising COVID-19 cases in the state and the newly identified Omicron variant. According to The Wall Street...more

The Volkov Law Group

Keeping Track of Third Party Risks – Bribery and Sanctions

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We have heard it over and over, again and again – third-parties pose significant risks of bribery for all global businesses.  Almost every FCPA enforcement action includes some form of third-party misconduct.  The current...more

The Volkov Law Group

Cameron Settles OFAC Case for $1.4 Million for Violation of Ukraine-Russia Sanctions (Part I of II)

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In a pair of enforcement actions, OFAC settled two separate actions involving Schlumberger Limited subsidiaries – the first involving Cameron International Corporation, and the second,  Schlumberger Rod Lift, Inc., a former...more

Proskauer - Minding Your Business

Online Marketplaces Could Expose Third-Party Sellers to Price Gouging Liability

On July 2, 2021, a group of consumers filed a putative class action in Washington District Court alleging Amazon engaged in unlawful price gouging during the COVID-19 pandemic on a variety of products. The case is noteworthy...more

The Volkov Law Group

NewTek, Inc., a Software Provider, Settles OFAC Violations for $189,483

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The Treasury Department’s Offices of Foreign Assets Control (“OFAC”) continues its enforcement run in 2021, and added yet another tech company to its list of targets....more

Proskauer - Minding Your Business

Minnesota Files Price Gouging Suit Against Egg Producer

Although many states of emergency have expired, new lawsuits that allege price gouging continue to be filed. On September 3, 2021, Minnesota Attorney General Keith Ellison filed a complaint in Minnesota state court against...more

Hogan Lovells

OFAC settles case involving goods with more than de minimis controlled U.S.-origin content

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On 24 September 2020, the U.S. Department of Treasury's Office of Foreign Asset Control (OFAC) announced a settlement with Keysight Technologies, Inc. (Keysight) for sanctions violations committed by its former subsidiary,...more

The Volkov Law Group

Keysight Technologies Settles with OFAC for $473,157 for Violations of Iran Sanctions Program

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OFAC is a steady enforcement agency.  As the COVID-19 pandemic settled down, OFAC resumed aggressive enforcement of economic sanctions. ...more

Bilzin Sumberg

Egg Supplier Scrambling As Pandemic Price-Gouging Enforcement Heats Up

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Earlier this month, the Attorney General’s Office of the State of New York filed a lawsuit  in New York Supreme Court against Hillandale Farms alleging that the company gouged egg prices during the COVID-19 pandemic....more

The Volkov Law Group

OFAC On A Roll: Whitford Worldwide Company Agrees to Pay $824k for Violations of Iran Sanctions

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When you are hot, you are hot.  (And when you are not, you are not; Thank you Jerry Reed, Country Singer).  OFAC is hot and resumed its enforcement streak, settling three enforcement actions in three weeks....more

The Volkov Law Group

DOJ and OFAC Settle with UAE Company for $665,112 for Violations of North Korea Sanctions

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The Justice Department and OFAC announced a settlement with Essentra FZE Company Limited (“Essentra FZE”), a cigarette filter and tear tape manufacturer, for violation of the North Korea Sanctions Program.  The violations...more

Orrick, Herrington & Sutcliffe LLP

Governor Cuomo Signs COVID-19 Legislation Expanding NY Price Gouging Law to Include Personal Protection Equipment and Increasing...

On June 6, New York Governor Andrew Cuomo signed into law legislation (S.8189) that strengthens the state’s price gouging statute, in response to COVID-19. The legislation expands the current price gouging statute by...more

Shook, Hardy & Bacon L.L.P.

Food & Beverage Litigation Update l June 2020

SPOTLIGHT - COVID-19 Brings Price-Gouging Litigation To California - California often serves as an incubator for litigation that thereafter sweeps across the country. This phenomenon may hold true for newly minted...more

Ballard Spahr LLP

FinCEN Issues Advisory on Medical Scams Relating to COVID-19

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On May 18, the Financial Crimes Enforcement Network (“FinCEN”) issued an Advisory “to alert financial institutions to rising medical scams related to the COVID-19 pandemic. This [A]dvisory contains red flags, descriptions of...more

Shook, Hardy & Bacon L.L.P.

COVID-19 Client Primer | Trademarks and Price Gouging

Using Trademark Law to Combat Reputational Harm from Third-Party Price Gouging - The COVID-19 outbreak has created unforeseeable, yet critical, need for certain products. Unfortunately, some see shortages in the supply of...more

Shook, Hardy & Bacon L.L.P.

Food & Beverage Litigation Update l May 2020

Examining Price-Gouging Allegations During COVID-19 Pandemic - Shook Partner Katie Gates Calderon and Associate Elizabeth Fessler have authored “Best Practices for Food and Beverage Pricing Right Now” for Law360, which...more

McNees Wallace & Nurick LLC

Price Gouging – It Could Cost You

The COVID-19 crisis has caused many state Attorney’s General, including the Pennsylvania Attorney General (“PA AG”), to encourage consumers to submit complaints and allegations of price gouging. Rest assured that all such...more

Epstein Becker & Green

Price Gouging: Perception Is Not Reality

Consumer complaints regarding alleged price gouging have been increasing as the COVID-19 pandemic continues. Generally, price gouging occurs when there unreasonable increase the price of a consumer good (or service) during a...more

The Volkov Law Group

The Risk of “Price Gouging” in the New COVID-19 Pandemic Marketplace

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The COVID-19 pandemic era has transformed the economy  with a new emphasis on health and safety related products (e.g., sanitizers, toilet paper, designated medical supplies).  Our economy has suffered severe disruptions to...more

Hogan Lovells

U.S. and European authorities actively pursue COVID-19 price gouging violations

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The COVID-19 crisis has led to increased scrutiny of pricing decisions by competition and consumer protection authorities around the world. Already, we have seen a rise in state, federal, and international enforcement efforts...more

Robins Kaplan LLP

Price Gouging In The COVID-19 Pandemic: Protecting Yourself And Your Business

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Supply difficulties and price changes are focusing businesses and governments on laws and orders against hoarding and price gouging....more

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