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SDNY Insider Trading Cases Surge in 2016

The Southern District of New York has seen a resurgence in government lawsuits over insider trading in 2016 following a 2015 decline that has been attributed by commentators to the Second Circuit’s decision in U.S. v. Newman. The U.S. Attorney’s Office there, led by Preet Bharara, has filed charges against 11 individuals so far this year, a...

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OIG Reports on Home Health Care Fraud

The U.S. Government is stepping up enforcement efforts against home health services fraud according to an Office of the Inspector General (OIG) alert recently published. In a separate June 2016 report from OIG, Medicare estimates that it spent approximately $18.4 billion to reimburse more than 11,000 home health agencies. Of that amount, the Medicare Fee-for-Service...

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Supreme Court Ruling on Implied Certification in FCA Cases

The Supreme Court on Thursday handed down a unanimous decision in U.S. ex rel. Escobar v. Universal Health Services, Inc. to resolve the circuit split over the validity of the implied certification theory of liability under the False Claims Act. The case involved services billed to the U.S. Government’s health care programs by unlicensed providers acting without...

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Pharma Patients at Risk with New Drugs, Corruption

Two reports on the pharmaceutical industry issued recently put the safety of drugs into question, with one questioning whether new drugs are put on the American market too soon (before all the risks are known) and the other noting the global risks of corruption within the drug industry on public health. Health Risks in New...

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Private Enforcement of the FCPA Proposed

A bill to reform the Foreign Corrupt Practices Act by creating a private cause of action has been introduced into the U.S. House of Representatives by Rep. Ed Perlmutter (D-CO). Courts have universally held that there is no private right to sue under the FCPA at present. The bill is called the Foreign Business Bribery...

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Cybersecurity Named Biggest Risk to the Financial System as SEC Prepares for More Enforcement Actions

There haven’t been a lot of large fines handed down by the U.S. Securities and Exchange Commission because of hacking yet but more may be on their way in the wake of recent public comments coming out of the SEC. In May, SEC Chair Mary Jo White called cyber security the biggest risk to the...

Big Fines Continue for Banks Over FX, Benchmark Rates

The U.S. Government has handed down billions of dollars of fines to banks for manipulation of prices in the foreign exchange markets and benchmark interest rates already. We may have decreased our coverage of these investigation updates a bit over the past few months, but that doesn’t mean the government investigations aren’t continuing. Citi Settles...

Close-up of United States Currency, representing The Hefty High Price of Attempted Whistleblower Retaliation, SEC, and whistleblower rewards

SEC Whistleblower Office Awards $17 Million

The SEC whistleblower program seems to be hitting its stride recently, with five whistleblowers awarded more than $26 million over the past month. The latest reward was $17 million, the second largest to date, for a detailed tip by a former company employee that substantially advanced a government investigation. The recipient was one of five...

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Supreme Court Weighs in on False Claims Act Seal Violations

The Supreme Court will undertake review of another False Claims Act case after accepting the petition of State Farm to reconsider the 5th Circuit Court of Appeals decision in U.S. ex rel. Rigsby v. State Farm Fire and Casualty Co. The case turns on the appropriate consequences of a violation of the False Claims Act’s seal...

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New Overtime Pay Rules to Start in December

The Department of Labor has finalized regulations to require overtime pay to approximately 4.2 million salaried workers. In order for a business to claim that an employee is eligible for the overtime exemption as an executive, administrative or professional worker under the Fair Labor Standards Act (“FLSA”) past November, the individual will need to make...

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