News & Analysis as of

Settlement

Heritage Home Group to Pay $50,000 to Settle EEOC Disability Discrimination Lawsuit

Home Furnishings Company Denied Accommodation to and Fired Employee, Federal Agency Charged - CHARLOTTE, N.C. - Heritage Home Group, LLC, a North Carolina corporation that designs, manufactures, sources and retails home...more

Current Claims Filing Trends in Securities Class Action Settlements

by Epiq on

Overall, 2017 was a busy year for securities class action lawsuits. It started at a blistering pace, and finished with the most suits filed since 2001, at a staggering 66% increase over 2016. The resolutions for securities...more

SEC Announces Yahoo Will Pay $35 Million for Failure to Disclose Data Security Incident

by Jones Day on

The Situation: The SEC accused Altaba Inc., then known as Yahoo! Inc., of misleading investors by failing to disclose a major data breach orchestrated by Russian hackers. The Result: Altaba has agreed to pay $35 million to...more

Redlining Legal Theories Remain Unresolved

by Poyner Spruill LLP on

On May 8, 2018, the United States Department of Justice (DOJ) settled its fair lending “redlining” lawsuit against Minnesota-based KleinBank, a family-owned bank with assets of more than $1.9 billion. The settlement follows...more

Will The Supreme Court Take A Charitable View Of Cy Pres Settlements?

by Carlton Fields on

On April 30, the Supreme Court granted certiorari in Frank v. Gaos, No. 17-961 to review the fairness of the ever-increasing use of cy pres remedies in class action settlements. ...more

Recent Appellate Decision Favors Plaintiffs in Valuation of Past Medical Damages

by Selman Breitman LLP on

The Implications of Pebley v. Santa Clara Organics, LLC - The Court of Appeal's recent holding in Pebley v. Santa Clara Organics, LLC allows insured plaintiffs to potentially recover the full amount billed for medical...more

Mobile Phone Manufacturer Settles with FTC Over Privacy and Data Security Concerns

by Weiner Brodsky Kider PC on

The Federal Trade Commission (FTC) announced that it settled with a mobile phone manufacturer for alleged privacy and data security violations which occurred when the manufacturer allegedly allowed a foreign third-party...more

Compliance Lessons Learned from Panasonic Avionics $280 Million FCPA Enforcement Action (Part II of II)

by Michael Volkov on

The Panasonic Avionics (PAC) FCPA enforcement settlement for $280 million with the Justice Department and the Securities and Exchange Commission contains a number of important lessons learned. ...more

Between a Rock and a Hard Place: SEC Disclosure Analysis in Light of Yahoo Settlement

by McGuireWoods LLP on

On April 25, the Securities and Exchange Commission announced a settlement with Yahoo that constituted its first enforcement action against a public company for failing to disclose a data breach. This settlement...more

Alere Settles False Claims Act Allegations for $33 Million

by Knobbe Martens on

The United States Department of Justice announced in a press release that Alere Inc. and its subsidiary, Alere San Diego, reached a settlement agreement with the United States government for $33.2 million over allegations...more

Supreme Court to Address Use of Cy Pres Relief in Class Action Settlements Next Term

The Supreme Court recently granted review in a case that involves whether, or in what circumstances, cy pres relief may be used in class action settlements. ...more

It’s a material world - why the SEC’s Yahoo! penalty really matters

In the aftermath of the April 24, 2018, Securities and Exchange Commission (SEC) statement announcing its penalty against Altaba Inc., formerly Yahoo! Inc. (Yahoo!), for failing to timely report a massive data breach,...more

FLIR Systems ITAR Settlement Outlines Important Export Compliance Factors (Part II of II)

by Michael Volkov on

The FLIR Systems settlement is an extraordinary event given the sheer number of violations, the systemic breakdown that occurred, and the absence of any meaningful compliance controls. ...more

Voluntary Remediation and the SEC: Six Key Elements and Three Potential Pitfalls

A recent settled SEC order, In re Arlington Capital Management, Inc. and Joseph F. LoPresti, highlights the potential benefits of voluntarily taking steps to remediate conduct or practices that could run afoul of the SEC’s...more

CFPB Fines Large National Bank $1 Billion for Alleged Dodd-Frank Violations Relating to Mortgage Interest Rate-Lock Extension Fees...

by Weiner Brodsky Kider PC on

The CFPB, in a coordinated action with the OCC, recently announced a settlement with a large national bank that assessed a $1 billion penalty for alleged violations of the Dodd-Frank Consumer Financial Protection Act relating...more

Altaba (Yahoo) Agrees to Pay $35 million Penalty as SEC Continues to Emphasize Importance of Cybersecurity Data Breach Disclosures

On April 24, 2018, the Securities and Exchange Commission (the “SEC”) announced that Altaba Inc. (f/k/a Yahoo! Inc.) agreed to pay a $35 million penalty relating to charges that it misled investors with respect to disclosure...more

Supreme Court to Review Use of Charitable Donation to Settle Privacy Claims Against Google

A challenge to the use of a cy pres charitable donations to settle privacy claims against Google will be heard by the Supreme Court. In Frank v. Gaos, petitioners seek reversal of lower court decisions rejecting their...more

New Laws in New York State & City on Workplace Sexual Harassment

by Genova Burns LLC on

Governor Andrew Cuomo recently signed several new laws imposing requirements on employers in New York State regarding sexual harassment. New York City employers will be subject to additional requirements, as the city council...more

SEC Investigations: A Guide for Public Company Directors, Officers, and In-House Counsel

by Latham & Watkins LLP on

Even public companies with a strong code of conduct, an exemplary tone at the top, robust internal controls, and a culture of compliance may face allegations of misconduct that can lead to an investigation by the Division of...more

The Children’s Home Settles EEOC Sex Discrimination Lawsuit

Nonprofit Refused to Hire Male Employee for a Maternity Program Position Because of His Sex, Federal Agency Charged - TAMPA, Fla. - The Children's Home, Inc., a Tampa nonprofit child care organization also known as the...more

Clean Air Act New Source Review in 2018: Re-thinking Your Strategy for Compliance

by Williams Mullen on

New Source Review (“NSR”) remains a focus of enforcement for EPA. Between last year and now, EPA finalized eight settlements with manufacturers and one with a utility, asserting NSR violations for allegedly not obtaining a...more

Supreme Court to Decide Permissibility of Cy Pres Awards in Class Action Settlements

by Ballard Spahr LLP on

The U.S. Supreme Court has agreed to decide whether parties to a class action may agree to a settlement that confers cy pres awards upon various nonprofit institutions and organizations, but provides no monetary relief for...more

SEC Issues $35 Million Fine For Alleged Failure To Disclose Data Breach

by Shearman & Sterling LLP on

On April 24, 2018, the United States Securities and Exchange Commission (“SEC”) instituted a settled administrative proceeding against Altaba Inc., f/d/b/a Yahoo! Inc. (“Yahoo!”) for allegedly failing to disclose a...more

SEC Targets Inadequate Cyberbreach Disclosure in Yahoo! Settlement

by WilmerHale on

On April 24, 2018, the Securities and Exchange Commission announced a settled enforcement proceeding against Altaba Inc. (formerly known as Yahoo! Inc.) arising out of data breaches suffered by Yahoo in 2014, 2015 and 2016....more

Chase Lets Loose a Barrage of New Indemnification Demand Letters

by Bilzin Sumberg on

Ten years after the financial crisis, mortgage companies and regional/local banks are still getting hit with new breach of contract and indemnification claims related to loans sold before the crisis....more

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Cybersecurity

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