A former top executive at electronics retailer TigerDirect Inc. who took in $10 million in a kickback scheme with overseas suppliers asked a Florida district court on Wednesday to consider that the possible 20-year sentence he faces would essentially mean life in prison.
A putative class of patients filed a federal antitrust lawsuit against Quest Diagnostics Inc. Thursday, alleging the company monopolized outpatient diagnostic services in Northern California by paying kickbacks to medical providers, colluding with insurers and acquiring competitors.
Even though the U.S. Department of Justice has only challenged foreign cartels that involve at least some direct imports into the country, it would be willing to pursue cases involving solely indirect sales in the future, the watchdog’s chief antitrust enforcer said Thursday.
The principle of international comity, in which nations respect foreign laws as they apply to foreign conduct, was in the spotlight Thursday before the Second Circuit as two Chinese companies pushed to nullify a $153 million award against them that stemmed from a Brooklyn, New York, antitrust class action over vitamin C price-fixing.
Plaintiffs in a long-running collusion case asked a Massachusetts federal judge Thursday to ignore objections from retail investors and to grant final approval to $590 million in settlements in a class action claiming Goldman Sachs Group Inc., Carlyle Group LP and several other private equity firms teamed up to keep leveraged buyout prices low prior to the financial crisis.
Former Access Communications LLC CEO Michael J. Mitrow Jr. on Thursday admitted to fraud conspiracy and tax evasion charges after federal prosecutors accused him and his brother of taking kickbacks from Robert T. Madison, a former supplier to Mitrow's health care-focused marketing company.
Sen. John Cornyn, R-Texas, vowed Thursday to use the Republican Party's recently won congressional majority to push for patent reform measures, including a bill that would curb allegedly abusive patent litigation from patent trolls, but which failed in last year's Democrat-controlled Senate.
The U.S. Securities and Exchange Commission has dropped its investigation of Cobalt International Energy Inc. over the alleged bribery of foreign officials in Angola in violation of the Foreign Corrupt Practices Act, the company said Wednesday.
A California federal judge on Tuesday refused to end computer data storage device maker GSI Technology Inc.'s lawsuit accusing rival Cypress Semiconductor Corp. of conspiring to monopolize the static-RAM memory market, saying GSI was not barred by the statute of limitations.
The Second Circuit is set to hear two Chinese vitamin C companies' bid to overturn a $153 million price-fixing verdict Thursday in an unusual dispute that will put the Chinese government's alleged role in an export cartel front and center.
A European Union court on Wednesday rejected Akzo Nobel NV's bid to keep the European Commission from releasing an extended public version of its 2006 bleach cartel decision, ruling that the company wasn't entitled to special protection from liability for its antitrust violation.
European regulators on Wednesday signed off on a series of deals between Novartis AG and GlaxoSmithKline PLC worth a combined $23 billion on the condition that the companies divest a number of assets and commit to an exclusive distribution agreement.
In New York State Assembly Speaker Sheldon Silver's recent indictment, a controversial property tax abatement program known as 421-a was implicated in the federal bribery and kickback charges. Now, some experts say the implications and Silver's arrest could throw a wrench in the program's renewal negotiations this summer.
A California appeals court on Tuesday partially reversed the dismissal of the Los Angeles Memorial Coliseum Commission's suit against two rave promoters accused of bribing a former coliseum official for reduced venue fees, finding that the commission's allegations of a fraud conspiracy and conflict of interest can stand.
Federal prosecutors on Wednesday kicked off their health care fraud case against the former chief executive of Chicago’s Sacred Heart Hospital and two other administrators, telling a jury that the trio devised an elaborate scheme to cloak kickbacks paid to doctors for patient referrals.
Personal-injury law firm Weitz & Luxenberg PC said Wednesday it had asked former New York State Assembly Speaker Sheldon Silver to depart from the firm in the wake of charges that he received millions from Weitz & Luxenberg and an unnamed real estate tax firm without performing any legal work.
A federal judge in New York on Wednesday denied a motion to dismiss a U.S.-based class action alleging that Bank of America Corp., Barclays PLC and other banks rigged foreign exchange markets.
The U.S. Department of Justice blasted Apple Inc. on Tuesday, telling the Second Circuit that the company misinterpreted a Fifth Circuit ruling that it claims supports its arguments for reversal of the DOJ's win in an e-book price-fixing case.
Spain's antitrust enforcer has recently fined 39 companies and three associations a total of €98.2 million ($111 million) for forming a cartel in the urban waste management industry, according to a statement from the watchdog.
Bank of New York Mellon Corp. has revealed that it may face bribery charges over internships it allegedly gave to relatives of sovereign wealth fund officials, following an investigation by the U.S. Securities and Exchange Commission.
The U.S. Supreme Court recently heard oral argument in Oneok Inc. v. Learjet Inc., a case that raises an intriguing question about what the justices aim to achieve given the intervening expansion of the Federal Energy Regulatory Commission’s anti-manipulation authority in the 2005 Energy Policy Act, say attorneys with Cadwalader Wickersham & Taft LLP.
A Virginia federal court's recent decision to set aside a $101 million False Claims Act jury verdict against Gosselin World Wide Moving NV may support arguments to defeat broad interpretations of FCA liability advanced by the government or private relators. The ruling is also notable for its treatment of statistical modeling used to extrapolate damages under the FCA, say attorneys with Arnold & Porter LLP.
The scrutiny surrounding Foreign Corrupt Practices Act compliance is about to become even sharper with a recent report that the FBI will triple the number of agents dedicated to investigating potential violations. The increased manpower, coupled with the U.S. Securities and Exchange Commission’s continued investment in data analytics tools, sends a strong message, say members of StoneTurn Group LLP.
Last year, the reverse payments conversations grew hotter with courts divided and the law evolving. What is more, those conversations have caught on abroad, with developments occurring in Europe and Canada. 2015 will better define what is and is not an illegal reverse payment, say Ryan Marth and Matthew McFarlane of Robins Kaplan LLP.
We trust our law firms with huge amounts of data, whether in or out of discovery, investigations or litigation. All too often, we have relied on privilege, confidentiality and attorney ethics as a proxy for data protection and information security. But in fact, law firms ought to be held to a much more stringent standard — and in-house counsel would be wise to begin with a number of specific inquiries, says legal industry consultan... (continued)
While the U.S. Supreme Court’s Gelboim v. Bank of America ruling is an important one in multidistrict litigation jurisprudence, it ultimately does little to impinge on the wide discretion MDL courts have in deciding what gets appealed and when. District courts continue to possess the tools needed to avoid final judgments during pretrial MDL proceedings, say Adam Schramek and Eric Hoffman of Norton Rose Fulbright US LLP.
As evident in a recent divesture settlement over Medtronic Inc.’s $42.9 billion acquisition of Covidien PLC, the Federal Trade Commission continues to reach forward and predict the future of competition in health care and life sciences transactions. Its ability to do so is facilitated, in part, by the U.S. Food and Drug Administration regulatory process, say Dionne Lomax and Timothy Slattery of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
Although the Fifth Circuit technically based its recent decision in Abraham & Veneklasen Joint Venture v. American Quarter Horse Association on insufficient evidence of conspiracy, the opinion really seemed to turn on the single entity analysis under the U.S. Supreme Court decision in American Needle Inc. v. NFL, says Zachary Caplan of Berger & Montague PC.
After a relatively quiet third quarter in which there was only one corporate settlement of a Foreign Corrupt Practices Act enforcement action, 2014 ended with a flurry of activity, including the largest criminal penalty ever levied under the FCPA. Resolutions in the second half of the year highlight the value the agencies place on timely self-disclosure, full cooperation and remediation, say attorneys with Mayer Brown LLP.
The Marriott International mobile hotspot-jamming matter illustrates a growing tension between consumers’ ability to create their own Wi-Fi networks and the ability of facility hosts to protect and securely manage their own networks. It remains to be seen when and how the Federal Communications Commission will resolve these competing interests, says Timothy Kevane of Sedgwick LLP.