News & Analysis as of

Securities Fraud Kickbacks

Morrison & Foerster LLP

DOJ Criminal Division Initiates Self-Disclosure Pilot Program for Individuals

On April 15, 2024, the Criminal Division of the Department of Justice (DOJ) announced a new pilot program setting forth the circumstances in which it will offer non-prosecution agreements (NPAs) to individuals who voluntarily...more

ArentFox Schiff

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

ArentFox Schiff on

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

Investigations Newsletter: DOJ Announces $3.3 Billion Cryptocurrency Seizure and Fraud Conviction

ArentFox Schiff on

DOJ Announces $3.3 Billion Cryptocurrency Seizure and Fraud Conviction - On Friday, November 4, James Zhong pled guilty to committing wire fraud in September 2012, when he allegedly executed a scheme to defraud “Silk...more

Robinson+Cole Health Law Diagnosis

A COVID-19 Laboratory Testing Conviction under EKRA

Mark Schena, the President of Arrayit Corporation, has been found guilty by a jury for violations of the Eliminating Kickbacks in Recovery Act (EKRA), healthcare fraud, wire fraud, and securities fraud....more

ArentFox Schiff

Investigations Newsletter: DOJ Secures $5.6 Billion in False Claims Act Recoveries in Fiscal Year 2021 

ArentFox Schiff on

DOJ Secures $5.6 Billion in False Claims Act Recoveries in Fiscal Year 2021 - On February 1, 2022, the U.S. Department of Justice (DOJ) announced that the Department recovered approximately $5.6 billion in False Claims Act...more

ArentFox Schiff

Diabetic Testing Supplier Agrees to $160 Million Penalty to Resolve False Claims Act Charges

ArentFox Schiff on

On August 2, 2021, the Department of Justice (DOJ) announced that Arriva Medical LLC (Arriva), once the nation’s largest Medicare mail-order diabetic testing supplier, and its parent company, Alere Inc., have agreed to...more

ArentFox Schiff

Investigations Newsletter: Court Rules Prescription Drug Event and Enrollee Encounter Data Are 'Claims for Payment' Under the...

ArentFox Schiff on

Court Rules Prescription Drug Event and Enrollee Encounter Data Are 'Claims for Payment' Under the False Claims Act - US District Judge Noel L. Hillman approved a whistleblower’s request to file a Fourth Amended Complaint...more

A&O Shearman

Northern District Of Illinois Denies Motion To Dismiss Putative Securities Class Action Against Pharmaceutical Company Relating To...

A&O Shearman on

On September 1, 2020, Judge Charles R. Norgle of the United States District Court for the Northern District of Illinois denied a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of...more

ArentFox Schiff

Investigations Newsletter: Medical Technology Company President Charged in $69 Million COVID-19 Testing Fraud Scheme

ArentFox Schiff on

Medical Technology Company President Charged in $69 Million COVID-19 Testing Fraud Scheme - A complaint in the Northern District of California was unsealed on June 9, 2020, charging the president of Arrayit Corporation, a...more

Mintz - Health Care Viewpoints

DOJ Announces Criminal Charges against Lab Executive Accused of Fraudulently Promoting COVID-19 Tests

The Department of Justice (DOJ) has announced its first criminal securities fraud prosecution related to COVID-19, and it involves health care fraud as well. Mark Schena, president of Arrayit Corporation, a publicly traded...more

Gray Reed

2019 Bad Guys in Energy

Gray Reed on

To our bad guys, 2019 was a year flush with hope and opportunity; it ended with recidivism, more misery from Venezuela, a charlatan, an Okie who pulled a multi-million dollar fast-one on Chesapeake and, as in years past, a...more

Eversheds Sutherland (US) LLP

Boustani acquittal raises questions about how far the US government can reach

On December 2, 2019, a jury in the Eastern District of New York acquitted Jean Boustani, a Lebanese citizen who is alleged to have been a key player in coordinating more than $200 million in bribe and kickback payments to...more

Proskauer - Minding Your Business

When Gym Gossip Can Change Your Lifetime

As one of the more closely watched insider trading prosecutions of the past few years heads towards trial, observers can look to the investigation surrounding the 2015 acquisition of Life Time Fitness Inc. as a reminder of...more

A&O Shearman

Southern District Of New York Holds Scienter Adequately Alleged In Putative Class Action Against Forex Services Company

A&O Shearman on

On March 28, 2019, Judge Ronnie Abrams of the United States District Court for the Southern District of New York largely denied a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of...more

The Volkov Law Group

ArthroCare CEO Reconvicted for Fraud

The Volkov Law Group on

The healthcare industry continues to be a frequent target for criminal prosecutions. More importantly, federal prosecutors are ready, willing and able to bring criminal cases against C-Suite actors involved in healthcare...more

Carlton Fields

Supreme Court to Resolve Whether Failure to Disclose under Item 303 of SEC Regulation S-K Gives Rise to Securities Fraud Claims

Carlton Fields on

On March 27, 2017, the Supreme Court granted certiorari in the case of Leidos Inc., f/k/a SAIC Inc. v. Indiana Public Retirement System, a securities fraud class action. The case will resolve a circuit split over whether a...more

Dorsey & Whitney LLP

U.S. Supreme Court Agrees To Hear Securities Fraud Omissions Case

Dorsey & Whitney LLP on

The U.S. Supreme Court will resolve a critical question governing the scope of liability in securities fraud cases which has split the circuit courts to date. The case, Leidos Inc. v. Indiana Public Retirement System, No....more

Skadden, Arps, Slate, Meagher & Flom LLP

Key Takeaways: Fourth Annual Seminar for Pharmaceutical, Biotechnology and Medical Device Companies

On October 5, 2016, Skadden hosted its Fourth Annual Seminar for Pharmaceutical, Biotechnology and Medical Device Companies. The seminar focused on the current and developing challenges facing such companies and included...more

Morrison & Foerster LLP

Top Ten International Anti-Corruption Developments for April 2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

CMCP - California Minority Counsel Program

OMNICARE and its Implications

In the spring of this year, the Supreme Court issued its long-awaited decision in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, 135 S.Ct. 1318 (2015), resolving a circuit split regarding the...more

Proskauer - Corporate Defense and Disputes

Petrobras Shareholders’ Brazilian-Law Claims Are Subject to Mandatory Arbitration Provision

The travails of Petrobras have generated a lot of attention – and litigation – in the past year. On July 30, 2015, District Judge Jed Rakoff, of the Southern District of New York, issued an opinion explaining his prior order...more

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