U.S. Securities and Exchange Commission Chairman Mary Jo White said Tuesday that SAC Capital Advisors LP was “absolutely treated fairly” by the agency in a $600 million insider trading settlement earlier this year.
The Fifth Circuit on Friday largely upheld the convictions and sentences of three Texans involved in running a $10 million Medicare and Medicaid fraud scheme, finding the trial court didn't commit any plain error other than imposing an excessive restitution demand on one of the defendants.
A federal judge can only issue a warrant to install an audio recording device on a vehicle if the vehicle is in her jurisdiction when the device is installed, the D.C. Circuit said Friday, reversing the conviction of a man accused of conspiracy to distribute cocaine.
A U.K. court ruling Friday keeping intact lawsuits accusing Barclays PLC and Deutsche Bank AG of manipulating the London interbank offered rate will encourage more investors to bring litigation over the rate-fixing scandal, attorneys say.
The Florida Supreme Court on Thursday ruled that a party in a criminal case seeking production of out-of-state documents from an out-of-state, nonparty corporation must rely on particular procedures provided in state law and not subpoenas issued to the corporation's registered agent in Florida.
A Pennsylvania federal judge on Thursday approved a $400 million criminal penalty against Johnson & Johnson unit Janssen Pharmaceuticals Inc., part of a larger $2.2 billion settlement announced Monday, after the company formally admitted to improperly encouraging doctors to use Risperdal to treat dementia.
A Kansas City, Mo., man also known as "Brother Jerry Love" pled guilty on Thursday to operating a tax scheme spanning eight states that almost netted him $100 million in fraudulent tax refunds, according to a U.S. attorney's office.
The Supreme Court of Canada said Thursday that police must get a unique warrant to search a computer, even if the computer is in a residence for which a warrant has been issued.
The Fourth Circuit on Thursday granted New York Times reporter James Risen's request to delay a case involving his testimony on confidential information he received about CIA operations, this while he pursues an appeal to the U.S. Supreme Court over whether he can protect the source's identity.
The U.S. Tax Court on Wednesday denied musician Ronald Isley's bid to reinstate a favorable settlement with the Internal Revenue Service aimed at resolving a $9 million tax debt, saying the deal violated the terms of a previous tax evasion conviction.
A Pennsylvania federal judge on Monday tossed a suit from convicted former state Rep. Brett Feese alleging the state attorney general's office destroyed evidence during his corruption trial for his role in the so-called Computergate scandal involving public funds being used to purchase campaign-related technology.
The New York federal judge tasked with approving or rejecting part of SAC Capital Advisors LP's $1.2 billion insider trading settlement signaled on Tuesday that he will consider two recent court decisions rejecting U.S. government pacts with major banks, suggesting the landmark deal will face a rigorous review.
The Eleventh Circuit on Tuesday affirmed the convictions of the owner of a Montgomery, Alabama-based tax preparation business and his assistant, who were accused of preparing fraudulent tax returns and defrauding the government out of $15 million.
Weatherford International Ltd. has inked deals with the U.S. Securities and Exchange Commission to put an end to a probe of Foreign Corrupt Practices Act violations and other corruption investigations at a cost of about $250 million, the oil services outfit revealed Monday.
SAC Capital Advisors LP’s landmark $1.2 billion insider trading settlement and guilty plea on Monday could haunt hedge fund owner Steven A. Cohen, undercutting his legal defenses in a criminal investigation and a civil case alleging he failed to properly supervise traders, attorneys say.
The record $1.2 billion plea deal announced Monday between the government and SAC Capital Advisors for insider trading not only has Wall Street nervous, but experts say it has cemented Manhattan U.S. Attorney Preet Bharara’s place as a capable and feared prosecutor who isn't afraid to go after the big fish.
SAC Capital Advisors LP has agreed to plead guilty to criminal fraud charges and pay a record $1.2 billion to settle allegations of rampant insider trading at the once-proud hedge fund, U.S. officials said Monday.
A former leader of a government hospital workers union local was sentenced Friday to house arrest for stealing union members’ dues.
Paul Daugerdas, the former head of the Chicago office of Jenkens & Gilchrist PC, was convicted for a second time Thursday of conspiracy and tax evasion over his role in a scheme to create tax shelters for wealthy clients.
The owner of a New Jersey title company pled guilty Thursday to stealing $5.3 million dollars with which he was supposed to have paid off mortgage loans linked to real estate closings handled through his agency, according to the New Jersey attorney general.
As the Foreign Corrupt Practices Act resource guide recognizes, and several recent cases demonstrate, pre-acquisition anti-corruption due diligence alone will not provide protection from FCPA successor liability. Companies must have a detailed FCPA plan of action as negotiations advance, due diligence commences, and negative due diligence results are uncovered, says Sharie Brown of Troutman Sanders LLP.
The recent district court decision in U.S. v. Countrywide Financial Corporation highlights the Financial Institution Reform, Recovery and Enforcement Act's expanding scope. Should the derivative theory of liability under FIRREA become judicially accepted, companies may well find themselves entangled in government-initiated lawsuits that once were solely within the realm of private disputes, say attorneys with Jenner & Block LLP.
Among 10 battle-proven strategies for getting your witnesses ready for trial is to role-play the cross-examiner. For instance, if you expect the cross-examiner to yell, get in the witness’ face or use scathing sarcasm, do that during practice to minimize surprises at trial, say Dawn Solowey and Lynn Kappelman of Seyfarth Shaw LLP.
The high-profile trials and corporate scandals that were broadcast over the summer highlight that Chinese authorities are focused on stamping out bribery and corruption. Chinese law provides for a number of rights and protections in the event of a raid and investigation, and companies must know what the law states and how to apply some basic but essential procedures, say Daniel Roules and Zhiying Zhan of Squire Sanders LLP.
Given the barrage of pessimism surrounding the potentially market-destroying risk retention rules that have been proposed, it is understandable that collateralized loan obligation market participants are leery of new regulatory proposals generally. However, the Bad Actor Provisions of the U.S. Securities and Exchange Commission's new Rule 506 should be the least of a CLO issuer’s concerns, say attorneys with Dechert LLP.
Current practice shows that the receipt of bribes is of particular interest to Russian authorities, and that even the mere accusation of receiving bribes may be detrimental to business, as the police do not hesitate to release the information about alleged violations before a trial or court determination of the merits, say attorneys with Debevoise & Plimpton LLP.
The recent high-profile arrests of SNC-Lavalin Group employees in connection with a bribery scheme to obtain a bridge construction contract in Bangladesh have made Canada’s anti-corruption efforts front-page news. These events, combined with the overhaul of the Corruption of Foreign Public Officials Act, are likely to increase the number of anti-corruption cases brought in Canada, say Stephen Huggard and Gregory Carey of Edwards Wildman Palmer LLP.
Pennsylvania's recent charges against XTO Energy Inc. for alleged fracking-related offenses may signal a new direction toward state criminal enforcement in regulation of the fracking industry. Regardless of the outcome, this case is a useful reminder that companies may be subject to prosecution in two courts, under two sets of laws, say Jeremy Peterson and Katherine Ghilain of Arnold & Porter LLP.
In Brazil, enacting a law does not guarantee it will be enforced. So it remains to be seen whether the new Brazilian Anticorruption Act will have a real impact. But one thing is certain: In the deal scenario, sufficient anti-corruption due diligence and negotiation of protective language in transaction agreements will be a must to avoid liabilities and reputational damage, say Lior Pinsky and Renata Fialho de Oliveira of Veirano Advogados.
Unfortunately, the credentials normally supplied by Big Law firms in beauty contests simply do not tell in-house counsel what they really want to know. Without discounting the difficulty of obtaining helpful information from candidates for outside counsel, there is one question that may be useful for in-house counsel to pose, says Andrew Jarzyna of Ulmer & Berne LLP.