News & Analysis as of

False Reporting

Dorsey Anti-Corruption Digest - November 2017

by Dorsey & Whitney LLP on

Massachusetts-based Alere Inc. will pay $13 million to settle charges alleging that the company bribed foreign officials and engaged in an accounting fraud, according to a Securities and Exchange Commission (SEC) Cease and...more

Ninth Circuit Revisits Standing Analysis for Statutory Claims in Spokeo

by Dechert LLP on

On remand from the Supreme Court, the U.S. Court of Appeals for the Ninth Circuit has held for the second time that the plaintiff in Robins v. Spokeo, Inc. has standing to proceed in federal court with claims under the Fair...more

18 Months in Prison for Cashing Client Checks and Not Reporting the Income to the IRS

by Moskowitz LLP on

A man who provided landscaping and snowplowing services to residential and commercial customers in Hartford, Connecticut is serving 18 months in jail for underreporting his income....more

Fourth Circuit Holds Complaining Employee is not Protected From Termination if the Employer Terminates Her Because It Believed Her...

A recent Fourth Circuit ruling in a case handled by Mintz Levin provides some comfort to employers concerned about terminating an employee who they believe has made a false complaint of discrimination. In Villa v. CaveMezze...more

The Complete Saga of Former U.S. Tax Court Judge Diane L. Kroupa is Now Finally Concluded

by Garvey Schubert Barer on

As reported in my April 7, 2016, October 3, 2016 and October 27, 2016 blog posts, former U.S. Tax Court Judge Diane L. Kroupa and her then husband, Robert E. Fackler, were indicted on charges of tax fraud. Specifically, they...more

May 2017: California Court Issues Decision Regarding Protection of Statements to Press Regarding Litigation

In Argentieri v. Zuckerberg, 8 Cal. App. 5th 768 (1st Dist. 2017), the California Court of Appeal recently held that an attorney’s statements to the press summarizing the allegations of a complaint are protected by the “fair...more

UK Regulator Bans Sole Trader Investment Business from the UK Financial Services Industry  

by Shearman & Sterling LLP on

The FCA concluded that Ms. Parry’s actions amounted to a failure to act with integrity and were therefore in contravention of Statement of Principle 1 of the FCA’s Statements of Principle. Furthermore, the FCA concluded that...more

Get Ready to Be Clawed, With the SEC's Blessing, and It May Cost You Dearly

by BakerHostetler on

Imagine you are a former executive of a public company, where your role was unrelated to the preparation of its financial statements, and you are notified years after leaving the company that it will be pursuing the return of...more

Southern District of New York Opinion Provides Guidance on Satisfying Scienter Requirement Under False Claims Act

by Dorsey & Whitney LLP on

Not every mistake or negligent act gives rise to liability under the False Claims Act. That principle has long been central to the FCA. But the dividing line– between making a mistake, on the one hand, and “knowingly” or...more

SEC Brings Another Enforcement Action For Failure to Disclose Perks

MusclePharm Corporation, or MSLP, and certain related parties recently settled an SEC enforcement action which included charges related to non-disclosure of certain perks. The SEC alleged from 2010 through July 2014, MSLP...more

Ninth Circuit Reverses Tax Fraud Conviction Where Returns Were Not “Filed” With Internal Revenue Service

by Blank Rome LLP on

Yesterday the Ninth Circuit addressed the question of whether an individual can be convicted of filing false tax returns pursuant to 26 U.S.C. 7206(1) where the tax returns in question were tendered to an IRS agent during an...more

Who’s In Your Wallet? Is Your Company Being Hijacked by Identity Thieves?

by Buchalter on

The California Secretary of State has detected increased criminal activity aimed at businesses, as identity thieves make phony filings with the Secretary of State’s office that help them gain access to bank accounts and...more

Rare SEC Administrative Loss in Adviser ADV Case

by Burr & Forman on

SEC Administrative Law Judge Grimes dismissed administrative charges against an investment adviser and its principals for allegedly failing to disclose material conflicts of interest in its Form ADV and willfully filing false...more

Compliance Officers Can Face Individual Liability for Corporate Importation Violations

by Baker Donelson on

Corporate officers and shareholders take note: personal liability for unpaid duties may result from material misrepresentations on import documentation even when the importer of record is a corporate entity. The corporate...more

Fourth Circuit Case Reminds Government Contractors of False Claims Act Breadth

The recent opinion from the U.S. Court of Appeals for the Fourth Circuit in United States ex rel. Badr v. Triple Canopy, Inc., serves as a reminder of the breadth of the civil False Claims Act when applied to federal...more

FTC Scrutinizes Two Companies For Falsely Reporting Compliance With E.U. Safe Harbor In Privacy Policies

by King & Spalding on

On April 7, 2015, the Federal Trade Commission (“FTC”) announced that two companies have agreed to settle claims that the companies failed to update their privacy policies to reflect lapsed compliance with the U.S.-E.U. and...more

Severe Fines for I-9 Noncompliance

by Carlton Fields on

During the first quarter of 2015, The Office of Chief Administrative Hearing Officer (OCAHO) issued five decisions involving employer violations related to Form I-9. In its latest decision (United States v. Liberty Packaging,...more

CFTC Taking Action on Inaccurate Reporting

The Commodity Futures Trading Commission (CFTC) is increasingly taking action on inaccurate reporting by market participants. In the past year, the CFTC has entered into three settlements with market participants for filing...more

SEC Brings Enforcement Action Related to Perks

The SEC charged the former CEO of Silicon Valley-based technology firm Polycom Inc. with using nearly $200,000 in corporate funds for personal perks that were not disclosed to investors. It’s the second enforcement action in...more

DOJ Warns Against Wrongful Use of Streamline Procedures

by Sanford Millar on

The U.S. Department of Justice is considering actions against taxpayers who wrongfully used the Streamlined Procedures to assert non-willful conduct. As quoted in Tax Notes Today...more

MD&A Lessons Learned from Broadwind Energy

by Blank Rome LLP on

On February 5, 2015, the Securities and Exchange Commission charged Broadwind Energy, Inc. (Broadwind), its former Chief Executive Officer and its Chief Financial Officer for accounting and disclosure violations that, as the...more

How Falsifying Compliance With A Lease Became Securities Fraud

by Dorsey & Whitney LLP on

The CEO and CFO of a successful senior living firm sought to expand the business by acquiring the operations of another firm and leasing its facilities. Despite warnings that the lease terms were far to onerous, the deal was...more

The Case That Could Significantly Disrupt How Companies Manage Their Gift Card Programs and Could Create Billions of Dollars in...

by Mintz Levin on

Every company with a gift card program should be aware of the recently unsealed qui tam case in Delaware titled State of Delaware ex rel. French v. Card Compliant, LLC, et al., N13C-06-289 (Superior Court of Delaware, New...more

Zimmermann: Dewey Charges Send 'Warning' To Struggling Law Firms

by Mimesis Law on

Mar. 12, 2014 (Mimesis Law) -- Kent Zimmermann, consultant at the Zeughauser Group, talks with Lee Pacchia about the recent spate of charges filed against former leaders of defunct law firm Dewey & LeBoeuf and what they mean...more

Florida’s False Claims Act – Did You Know It Changed Last Year?

by Foley & Lardner LLP on

In June 2013, Florida’s legislature significantly amended Florida’s False Claims Act, Fla. Stat. §§ 68.081-68.092 (“FFCA”), effective July 1, 2013. Although these amendments have not received much publicity or commentary,...more

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