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False Statements Settlement

Alston & Bird

Class Action & MDL Roundup 2024 Q3 – Our Market Research is Sustainable

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Welcome to the Class Action & MDL Roundup, our quarterly review of decisions and settlements in the class action arena. In this edition, it’s not a breach if it isn’t stolen, a greenwashing claim is washed away, and a...more

Freiberger Haber LLP

Enforcement News: Cherry-Picking Scheme Back In The News

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Two weeks ago, this Blog wrote about an enforcement action involving an investment adviser’s former co-chief investment officer who had been charged with running a more than $600 million cherry-picking scheme (here). Today,...more

Lathrop GPM

Fighting the Robots: Texas Attorney General Settles “First-of-its-Kind” Investigation of Healthcare AI Company

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In what it describes as a “First-of-its-Kind Healthcare Generative AI Investigation”, the Texas Attorney General (AGO) recently reached a settlement agreement with an artificial intelligence (AI) healthcare technology...more

Quarles & Brady LLP

Texas Attorney General Obtains Settlement of Alleged False and Misleading Statements About Healthcare Artificial Intelligence...

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On September 18, 2024, the Attorney General (AG) of Texas announced a settlement with an artificial intelligence-focused healthcare technology company to resolve allegations of false and misleading statements about the...more

WilmerHale

Texas Attorney General’s Office Reaches Settlement with AI Company Over Deceptive Claims

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On September 18, the Texas Attorney General (AG) announced a settlement agreement with Pieces Technologies, Inc. (“Pieces”), a Dallas-based healthcare artificial intelligence (AI) research and development firm, resolving...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

Seward & Kissel LLP

SEC Settles Charges with Advisers for Marketing Rule Violations Related to AI Washing

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Who may be interested: Investment Advisers - Quick Take: The SEC recently settled charges with two investment advisers, through separate orders, relating to each adviser’s alleged violations of Rule 206(4)-1 under the...more

Sheppard Mullin Richter & Hampton LLP

SEC Cracks Down on Over-Hyped AI Claims – Director Says This is Just the Beginning

The SEC has charged and settled claims with two Investment advisers with making false and misleading statements about their use of artificial intelligence (AI). The SEC found that Delphia (USA) Inc. and Global Predictions...more

Holland & Knight LLP

Watts What You Say? SEC Brings a Battery of Charges Against EV Startup Company

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The SEC on Feb. 29, 2024, announced settled charges against Lordstown Motors Corp. (Lordstown) for allegedly misleading investors about sales prospects for the Endurance, Lordstown's flagship pickup truck for the electric...more

Harris Beach Murtha PLLC

OIG January 2024 Enforcement Summary

The following is a summary of selected federal Department of Health and Human Services’ Office of Inspector General (OIG) reports of fraud and abuse enforcement activity across the country. The enforcement actions reported...more

ArentFox Schiff

Investigations Newsletter: DOJ’s First Criminal Securities Fraud Prosecution Related to COVID-19 Results in Eight-Year Sentence

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DOJ’s First Criminal Securities Fraud Prosecution Related to COVID-19 Results in Eight-Year Sentence - Mark Schena, the former president of Arrayit Corporation, a Silicon Valley-based medical technology company, was...more

ArentFox Schiff

FTC Crack Down Continues Against False Made in USA Claims

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The Federal Trade Commission (FTC) continues to evidence a strong commitment to bringing enforcement actions against false or deceptive US-origin marketing claims. In short, to avoid landing on the wrong side of such an...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

McDermott Will & Emery

Healthcare Regulatory Check-up Newsletter | March 2023 Recap

This issue of McDermott’s Healthcare Regulatory Check-Up highlights significant regulatory activity for March 2023. We discuss several criminal and civil enforcement actions that involve Anti-Kickback Statute (AKS) and...more

ArentFox Schiff

Big Lie Means Big Payout in Defamation Lawsuit Against Fox News

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Immediately before opening statements were to begin, Dominion settled its defamation lawsuit against Fox News for its coverage of Donald Trump’s “Big Lie” about the 2020 presidential election for a landmark $787.5 million. ...more

ArentFox Schiff

Investigations Newsletter: $31 Million Medicare Fraud Scheme Results in Two Convictions

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$31 Million Medicare Fraud Scheme Results in Two Convictions - On January 30, 2023, a federal jury found two Florida physicians guilty for their involvement in a scheme to defraud Medicare of over $31 million. The two...more

Goodwin

CFPB Reaches Proposed Settlement With Financial Service Company for Allegedly Offering Fake High-Yield Bank Accounts

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On December 1, 2022 the Consumer Financial Protection Bureau (CFPB) announced that it had reached a proposed settlement ​with a Delaware-based financial services company to resolve allegations it made false representations to...more

Dorsey & Whitney LLP

FERC Approves Multi-Million Dollar Settlement Over Inaccurate Reporting of Lobbying Expenses

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On December 30, 2022, FERC issued an order approving a stipulation between the Office of Enforcement and FirstEnergy Corp., which required FirstEnergy to pay a civil penalty and submit to compliance monitoring because...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

ArentFox Schiff

Investigations Newsletter: Contractor to Pay Over $4 Million to Settle FCA Violations

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CEO of Defunct Medical Testing Lab to Pay $1.1 Million to Settle FCA and AKS Case - Jae Lee, the former CEO of defunct Northwest Physicians Laboratory (NWPL), agreed to pay $1.1 million to resolve allegations that he...more

Ervin Cohen & Jessup LLP

Judge Approves $15M Settlement in Added Sugar Consumer Class Action

On February 24, 2021, a judge in the United States Court for the Northern District of California preliminarily approved a $15 million class-action settlement for Post Foods, based on the case Debbie Krommenhock et al. v. Post...more

ArentFox Schiff

Investigations Newsletter: Medical Supply Exec Agrees to Pay $20.3 Million to Settle FCA Claims

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Headlines that Matter for Companies and Executives in Regulated Industries - Medical Supply Exec Agrees to Pay $20.3 Million to Settle FCA Claims - Kelly Wolfe of Indian Rocks Beach, Florida, has agreed to a $20.3 million...more

Goodwin

Securities Class Action Against Swiss-Based Company Dismissed On Forum Non Conveniens Grounds

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Securities Class Action Against Swiss-Based Company Dismissed On Forum Non Conveniens Grounds; Second Circuit Finds Strong Inference of “Conscious Recklessness” In Allegations And Reverses Dismissal of Securities Suit Against...more

Sheppard Mullin Richter & Hampton LLP

FTC Finalizes Five Settlements Regarding Privacy Shield Claims

The FTC recently finalized settlements with five companies over allegations that they falsely claimed certification under the EU-U.S. Privacy Shield framework. In each complaint, the FTC alleged that DCR Workforce, Inc.,...more

King & Spalding

A Cautionary Tale on Non-GAAP Metrics

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Increasingly used by REITs, non-GAAP metrics can provide insights into a company’s operating results that official GAAP metrics cannot. Such measures can demonstrate a company’s ability to deliver sustainable growth in...more

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