Cornell Must Pay $2M In AIDS Research Case: 2nd Circ.

Law360, New York (September 5, 2012, 8:04 PM EDT) -- Cornell University must pay $1.75 million for misrepresenting an HIV/AIDS research fellowship to win a government grant, the Second Circuit ruled Wednesday in upholding a lower court ruling in a qui tam suit.

The court adopted other appeals courts' reasoning to measure damages with the amount of money the government paid out when it didn't receive a "tangible benefit."

The lower court properly calculated damages based on the full grant amount because when the government doesn't receive this tangible benefit from its funding, such as in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.