Category: News

Have the JP Morgan-DOJ Settlement Talks Be Driven By A Whistleblower? October 22, 2013 – Reports are that the Justice Department’s case against JP Morgan is being bolstered in part by the involvement of a whistleblower from inside the bank who is aiding the government.  The Wall Street Journal has reported that, “the cooperating person...

JP Morgan Reported To Be Close To Finalizing A $13 Billion Settlement With Department Of Justice October 21, 2013 – It is being widely reported that the Department of Justice and JP Morgan are finalizing the details of a $13 billion settlement relating to the 2008 financial meltdown. JP Morgan has already paid close to...

Boston Scientific To Pay $30 Million To Settle False Claims Act Allegations October 17, 2013 – As Reported in the Corpoate Crime Reporter, Boston Scientific Corporation, and its subsidiaries Guidant, LLC, Guidant Sales, LLC, and Cardiac Pacemakers, Inc. will pay a combined $30 million to settle allegations that it violated the False Claims Act by...

SEC Loses Case Against Celebrity Mark Cuban The U.S. Securities and Exchange Commission has lost a high-profile but low-stakes case against billionaire celebrity investor Mark Cuban in a Federal Court in Dallas.  The SEC alleged that Cuban engaged in insider trading when he sold his 6.3% stake in Canadian internet company Mamma.com to avoid a $750,000 loss...

UK Contemplates Qui Tam Provision It has recently been reported that the British government is contemplating the creation of a reward system, with qui tam provisions similar to the False Claims Act, to encourage whistleblowers to come forward with necessary information to root out government fraud and other white-collar crime. The U.K. Home Office, acting in concert with other...

$14 Million Award Signals SEC Is Embracing Its Whistleblower Program On October 1, 2013, the Securities and Exchange Commission (“SEC”) announced the payment of a $14,000,000 award to an, as yet, anonymous whistleblower, whose information led to the recovery of significant funds.  The award, the largest to date issued by the SEC, is a significant...

8th Circuit Court of Appeals Greenlights Former Bayer Employee Qui Tam Whistleblower Suit On October 15, 2013, the United States Court of Appeals for the Eighth Circuit green-lighted a whistleblower lawsuit brought by a former Bayer employee, alleging that the company deceptively marketed its Baycol cholesterol drug. See U.S. ex rel. Laurie Simpson v. Bayer Healthcare,...

Financial Professionals Win Big in Appeals Court Ruling The Association for Financial Professionals features Eric L. Young and James McEldrew analysis of the Third Circuit Court of Appeals ruling that historic Sarbanes Oxley legislation empowers financial professionals to assert their professional ethics and standards questioning the legality of bills and invoices on the “reasonable belief”...