News & Analysis as of

False Statements Misrepresentation

Shook, Hardy & Bacon L.L.P.

Authenticity Case Brought Against Florida Gallery

The question of how much diligence buyers must demonstrate may be considered in a new authenticity case brought recently in the Miami-Dade County Circuit Court against a Miami gallery for selling $6 million in fake Andy...more

Kohrman Jackson & Krantz LLP

FTC’s “Fake Review” Portal is Live: How Businesses Can Identify and Report Fake Reviews

The new federal rule combating fake reviews took effect last month, launching the Federal Trade Commission’s (FTC) endeavor to protect consumers from misinformation related to online products and services. ...more

BCLP

Artificial Intelligence Stays in the SEC's Cross-Hairs

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As news stories about AI have surged, so have enforcement actions by the SEC alleging fraudulent statements about AI capabilities....more

Seward & Kissel LLP

SEC Charges Investment Company, CEO and Board Member for Alleged Misleading Statements Regarding Use of Artificial Intelligence

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Who may be interested: Registered Investment Companies; Boards of Directors; Compliance Staff; Registered Investment Advisers - Quick Take: The SEC recently settled charges against a registered investment adviser (Adviser)...more

ArentFox Schiff

Investigations Newsletter: Florida Federal Judge Strikes Down FCA’s Qui Tam Provision as Unconstitutional

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Florida Federal Judge Strikes Down FCA’s Qui Tam Provision as Unconstitutional - On September 30, US District Judge Kathryn Kimball Mizelle of the Middle District of Florida held in a historic decision that the federal...more

Hinch Newman LLP

What Digital Marketers and Influencers Need to Know About the FTC Final Rule Banning Fake Consumer Reviews and Testimonials

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As previously blogged about here, following notices of proposed rulemaking in 2022 and 2023, on August 22, 2024 the Federal Trade Commission finalized a rule that will impose monetary civil penalties false and misleading...more

Holtzman Vogel Baran Torchinsky & Josefiak

In Compliance - Holtzman Vogel's September 2024 Round-Up

FEC Advisory Opinion Approves Federal Candidate Request to Add Super PAC to Joint Fundraising Committee - In Advisory Opinion 2024-07, the FEC approved a request made by Team Graham, the principal campaign committee of...more

Rivkin Radler LLP

September 2024 Insurance Update

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In this month’s update, we discuss Russian-seized planes, Starbucks-caused traffic jams, a squabble over the use of a family name, a restaurant’s pandemic-based loss, a poorly built house, and whether insurance covers any of...more

Husch Blackwell LLP

Texas Attorney General Reaches Generative AI Settlement

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Keypoint: The Texas Attorney General reaches a first-of-its-kind settlement with a healthcare company that provides generative AI products. On September 18, 2024, the Texas Attorney General announced that it had reached a...more

Goldberg Segalla

Fraud Doesn’t Pay In New York — May 2024 Update — 3rd Anniversary Edition

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As a part of our Quarterly Practice Group Update, we are pleased to share our next installment of examples demonstrating our continued success in the area of fraud litigation. This report was originally conceptualized nearly...more

Goldberg Segalla

Fraud Doesn't Pay in New York – February 2024 Update

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As a part of our Quarterly Practice Group Update, we are pleased to produce our next installment of examples of our success in the area of fraud litigation. This report was originally conceptualized nearly three years ago as...more

Vondran Legal

Viral DRM on a copyright lawsuit rampage in California

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Viral DRM is a content creator specializing in weather videos. Their content is attractive to many people who love to watch storm and weather videos. Recently, Viral DRM has been on a rampage filing lawsuits in California...more

Goldberg Segalla

Fraud Doesn’t Pay in New York – November 2023 Update

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An Overview of Recent Decisions Demonstrating the Board’s Continuing Attitude Toward 114-a - (Editor’s Note – As a part of our Quarterly Practice Group Update, we are pleased to produce our next installment of examples of...more

Cozen O'Connor

Minnesota AG Investigates Student Loan Debt Relief Companies

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Minnesota AG Keith Ellison has opened investigations into 52 student loan debt relief companies suspected of violating the state’s consumer protection laws and failing to register as debt settlement services providers in the...more

Faegre Drinker Biddle & Reath LLP

Court Allows Investors’ Claims to Proceed Based on Defendant’s Statement That Trade Secret Claim Was “Without Merit”

The Trade Secret Litigation: Appian v. Pegasystem - The trade secret case Appian v. Pegasystem made headlines in 2022 when a jury awarded software company Appian more than $2 billion in damages for its competitor Pega’s...more

Holland & Knight LLP

FTC Takes Action Against Principals and Celebrity Endorsers of Real Estate Training Program

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The Federal Trade Commission (FTC or Commission) and the Utah Division of Consumer Protection (DCP or Division; collectively with the FTC, Plaintiffs) brought law enforcement actions against defendants Nudge LLC, Dean...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Considers Viability of Fraudulent Misrepresentation Claims Premised on Statements to Third Parties

To state a claim for fraudulent misrepresentation in New York, the plaintiff typically must allege that the defendant made a false statement to the plaintiff.  But what if the defendant made the disputed statement to a third...more

Goodwin

SEC Continues Scrutiny of Municipal Bond Offerings

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​​​​​​​The SEC recently brought fraud charges against Sterlington, Louisiana and its former mayor and separately against Rochester, New York and its former executives and Rochester’s municipal advisors and principals/owners...more

Cadwalader, Wickersham & Taft LLP

FDIC Continues Cease and Desist Sweep Regarding Deposit Insurance and Crypto

A couple of weeks ago, we reported on the FDIC and the Federal Reserve Board sending a cease and desist (“C&D”) letter to Voyager Capital to stop representing that customer funds were protected by deposit insurance. This past...more

Dechert LLP

FDIC Issues Cease and Desist Letter to Voyager Digital, LLC; Fact Sheet on Deposit Insurance and Cryptocurrency

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The Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System (Board of Governors) issued a joint letter (Joint Letter) on July 28, 2022, to Voyager Digital, LLC and its related entities...more

Morrison & Foerster LLP

In SEC v. Rio Tinto PLC, the Second Circuit Confirms “Scheme Liability” Claims Require More than Misrepresentations.

Courts from the United States Supreme Court on down have long grappled with what, precisely, constitutes “scheme liability” under the federal securities laws, and to what extent a scheme can be based solely on false or...more

A&O Shearman

Southern District Of New York Pares Claims In Putative Class Action Against Telecommunications Company

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On March 25, 2022, Judge Mary Kay Vyskocil of the Southern District of New York granted in part and denied in part a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of 1934 against...more

White and Williams LLP

Next, Please: the Fast Food Industry Is Hit With the Latest PFAS Suit

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Over the last couple of years we have seen various industries impacted by litigation involving the newest emerging contaminant, per- and polyfluoroalkyl substances (PFAS). Suits have been brought against manufacturers of...more

Cozen O'Connor

The State AG Report – 2.24.2022

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Rhode Island Attorney General and FTC Team...more

Eversheds Sutherland (US) LLP

SEC charges investment adviser in connection with use of backtested performance

On January 13, 2022, the Securities and Exchange Commission (SEC) announced settled charges against CMG Capital Management Group, Inc. (CMG), a registered investment adviser for failing to adopt and implement policies and...more

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