Young Law Group, PC, announced today that it has secured a multi-million-dollar award on behalf of a whistleblower client resulting from the Securities and Exchange Commission’s $97 Million enforcement action against TIAA-CREF Individual & Institutional Services LLC, a subsidiary of Teachers Insurance and Annuity Association of America (TIAA). The SEC whistleblower case alleged that from...
On March 22, 2024, the Indiana Attorney General, Todd Rokita, announced that he is filing a suit against Pharmacy Benefit Managers (PBMs) and drug manufacturers for their part in raising the price of Insulin. This drug manufacturer and PBM fraud lawsuit follows multiple actions filed by other states on the same subject including Arizona, California,...
On March 18, 2024, Delphia Inc. and Global Predictions Inc. paid $400,000 in civil penalties to settle SEC charges related to the two investment advisers misrepresenting the method by which they used artificial intelligence (AI) to support their efforts. The firms were each found to be in violation of the Advisers Act and the SEC‘s...
On March 14, 2024, the Securities and Exchange Commission (SEC) and their crypto fraud lawyer team charged 17 CryptoFX employees for allegedly carrying out a $300 million Ponzi scheme that focused on defrauding the Latino community and impacted more than 40,000 investors. These charges came after the SEC had already issued an emergency action in...
On February 28, 2024, opioid manufacturer, Endo Health Solutions Inc. (“Endo”), agreed to pay $475 million to settle U.S. v. Endo Int’l plc, Case No. 19-cv-80574, a qui tam action brought by an anonymous whistleblower, who Young Law Group represented, on behalf of the United States. The complaint alleged that the company had violated the...
On January 31, 2024, the United States Attorney’s Office of the Western District of Washington announced that Yakima Products, Inc. agreed to pay $3 million to settle allegations that the company violated the False Claims Act (FCA). Specifically, a former employee brought forth this case under the qui tam provision of the FCA alleging that...
Booz Allen Whistleblower Case: Uncovering Government Overcharging On July 21, 2023, Booz Allen Hamilton Holding Corporation (Booz Allen) agreed to pay $377.45 million to settle claims that the company billed the government and thus used taxpayer dollars for costs associated with non-government related work. The settlement in this Booz Allen whistleblower case is notably one...
Eric L. Young from Young Law Group, P.C. (YLG), representing an anonymous whistleblower, disclosed today that Endo Health Solutions, Inc. (“Endo”), has agreed to a civil settlement of $475 Million to resolve its civil liability under the federal False Claims Act by unlawfully promoting Opana ER, a dangerous opioid drug that was removed from the...
On February 8, 2024, a Supreme Court whistleblower decision was issued on Murray v. UBS Securities, LLC, No. 22-660, siding with the whistleblower, Trevor Murray, and rejecting the Second Circuit’s assertion that a whistleblower needs to demonstrate that their employer had “retaliatory intent” to receive protections under the Sarbanes Oxley Act. The Sarbanes Oxley Act...
On January 16, 2024, The Whistleblower Securities and Exchange Commission (SEC) reported that JP Morgan agreed to pay 18 million dollars in order to settle charges brought against them for interfering with brokerage customers and advisory clients’ ability to act as whistleblowers and inform the SEC of possible securities law violations. Specifically, from March 2020...