A Miami aerospace company sued one of its engineers in Florida state court on Monday, alleging he stole computers, fighter plane parts and intellectual property belonging to the company, third-party defense contractors and the U.S. military.
A longtime U.S. Securities and Exchange Commission compliance examiner has agreed to resign after admitting that he knowingly made false statements about his personal stock holdings, criminal prosecutors revealed Tuesday.
Starr Indemnity & Liability Co. doesn't has to cover security contractor Protection Strategies Inc.’s defense costs stemming from allegations it defrauded NASA and other agencies in a $31 million kickback scheme now that several PSI executives have pled guilty, a Virginia federal court said Wednesday.
A New York federal judge on Thursday increased the sentences of two former Amerindo Investment Advisors Inc. money managers who ran an alleged $20 million fraud scheme, saying they had continued to act “vindictively” toward victims after being sent to prison.
A Washington, D.C., federal court on Wednesday officially dismissed charges against a former Blackwater Worldwide security contractor accused of taking part in the massacre of 14 Iraqi citizens in 2007.
Holland & Knight LLP has hired a former U.S. Attorney's Office and Securities and Exchange Commission official with a wealth of experience in securities and tax fraud matters, the firm said Wednesday.
Four former executives convicted of running a Ponzi-like scheme through bankrupt real estate firm DBSI Inc. on Tuesday asked an Idaho federal court to toss the verdicts against them or grant a new trial, saying prosecutor missteps tainted the jury's decision.
A Pennsylvania precision machine manufacturer and its CEO face criminal charges in connection to an alleged conspiracy to export to Iran machinery used to make automobile and aircraft parts in violation of U.S. export regulations, the U.S Department of Justice announced Wednesday.
A belief that an official can influence a government decision, regardless of the official's formal power to do so, can support a Hobbs Act conviction for extortion under color of official right, the Third Circuit ruled Wednesday, upholding a guilty verdict against Hamilton Township, N.J.'s former mayor.
A New Jersey federal judge on Wednesday declined to toss racketeering charges against a pair of reputed Lucchese crime family associates accused of draining $12 million from a mortgage lender and forcing its bankruptcy but dismissed counts against two attorneys and another defendant.
The U.S. Department of Justice's ongoing antitrust probe of the auto parts industry barreled ahead on Wednesday as the agency announced that a supplier of steering systems to Honda Motor Co. Ltd. will plead guilty to price-fixing and bid-rigging and pay a $19.9 million criminal fine.
The Sixth Circuit on Wednesday affirmed an 18-year prison sentence given to the ex-president of penny stock company Plasticon International Inc., saying the man convicted of bilking investors out of over $18 million failed to object to his sentence at trial.
A former employee of Sony Open promoter IMG Worldwide Inc. accused by federal prosecutors of having extra unauthorized tickets printed for the Miami event and pocketing the proceeds from the sales of these tickets themselves was arraigned in Florida federal court on Tuesday.
Two former executives at a noted New York City charity on Wednesday pled guilty to taking part in a 20-year larceny, tax-dodging and kickback scheme that took cash from inflated insurance premiums and siphoned $9 million from the Metropolitan Council on Jewish Poverty.
A former El Paso County prosecutor pled guilty to a charge accusing him of accepting cash bribes in exchange for dismissing criminal cases in Texas federal court on Monday, according to court records.
The NCAA on Monday asked a Pennsylvania appeals court to reconsider a recent finding that a consent order leveling $60 million in fines against Pennsylvania State University following the Jerry Sandusky sex abuse scandal requires the school’s input to be considered valid.
A Texas criminal defense attorney who recently confessed to felony charges stemming from her alleged overbilling of work for indigent clients and forgery of judicial signatures was slammed with a 10-year state prison sentence Monday.
A former U.S. Securities and Exchange Commission trial attorney who was involved in the agency’s litigation around JPMorgan Chase & Co.’s London whale debacle has rejoined Akin Gump Strauss Hauer & Feld LLP as a partner in its New York office, the firm said Tuesday.
A former Bank of America Corp. official who became a U.S. government witness in its crackdown on alleged municipal contract bid-rigging escaped punishment at his sentencing hearing Tuesday in New York federal court.
The U.S. Department of Justice confirmed Tuesday that it has named Marshall L. Miller as second-in-command in the agency’s criminal unit, where he'll take on the roles of acting principal deputy assistant attorney general and chief of staff, the agency said.
When billions or trillions of dollars of transactions are affected by the tiniest of changes in benchmarks, there might be temptation to move those benchmarks ever so slightly. However, the Nasdaq, municipal bond reinvestment, Libor and Forex charges of collusion show that the risk is greatest when detection is the most difficult, says Jon Eisenberg of K&L Gates LLP.
More often, smaller rivals are taking market share from the largest law firms. In this context, these smaller rivals are not small — they are super-regional firms with between 201 and 750 attorneys, large enough to serve the needs of a global corporation at a better value. And as they grow, they need to be sure they don’t make the same mistakes as the firms from which they’ve taken market share, says Michael Lipps of LexisNexis.
Over the last 15 years, financial institutions have paid billions of dollars to settle claims that they colluded with each other. In this two-part series, we discuss cases beginning with the Nasdaq spread collusion allegations in the late 1990s and ending with the more recent Libor and Forex investigations, identify lessons that emerge, and suggest steps that firms, and in some cases, regulators, may wish to consider to reduce risks going forward, says Jon Eisenberg of K&L Gates LLP.
The State Bar of California has decided to follow New York's lead and require prospective attorneys to record 50 hours of pro bono service in order to be eligible for admission. While we applaud the intentions behind these initiatives, there are a number of reasons why state bars should limit any mandatory pro bono requirement to this context, rather than extend it to licensed attorneys as some have suggested, say attorneys with the Association of Pro Bono Counsel.
As part of its agreement with the U.S. Department of Justice, Toyota Motor Corp. agreed to forfeit $1.2 billion — the largest criminal penalty imposed on a car manufacturer in U.S. history. While the size of this penalty has rightly received considerable attention, there is much more about the criminal case against Toyota and the deferred prosecution agreement that is worthy of close scrutiny by companies in the U.S. and abroad, say attorneys with Chadbourne & Parke LLP.
The potential for significant gains makes high-growth markets, such as Russia, Brazil and India, particularly enticing. But at what cost? Business practices that are both acceptable and customary in other countries may violate U.S. and other anti-bribery and corruption laws. However, there are ways to insulate the corporation from liability, says Shari Pire of Willkie Farr & Gallagher LLP.
There has been a dramatic change in how public relations professionals interact with the news media to promote or protect a law firm’s brand and reputation. But content is queen and has a bright future in law firm PR — it all begins with a plan that should include goals, performance indicators and a system of assessment, say Paul Webb, director of marketing at Young Conaway Stargatt & Taylor LLP, and Kathy O'Brien, senior vice president at Jaffe PR.
In its effort to protect public companies and legitimate businesses in general, the U.S. Supreme Court appears to be overlooking the effect its rulings are having on those for whom the fraud provisions of the securities laws were designed to protect. Should the court ring the death knell on class action securities cases, the South Florida climate for Ponzi schemers and other fraudsters will become better than ever, says Lawrence Kellogg, a founding partner of Levine Kellogg Lehman Schneider & Grossman LLP.
More courts than not have found that the government bears the burden of proving that a remote tippee knew that the tipper received some form of personal benefit, so the inevitable question is whether the government will reverse course and seek to prove that Rajarengan Rajaratnam knew that his brother Raj's tippers received a personal benefit, rather than running the risk of having a reversal of any conviction of Rajarengan, says Michele Adelman of Foley Hoag LLP.
Jewel litigation has been filed after every major law firm bankruptcy in the past 10 years, including Lyon & Lyon, Brobeck, Coudert, Thelen, Heller and Howrey. These lawsuits have produced years of litigation, with similar suits expected in the Dewey bankruptcy. Despite the legal uncertainties surrounding such claims, hiring firms can take steps now to minimize their Jewel risk for any lateral hire, say attorneys with Arnold & Porter LLP.