The Sec Shortens The Settlement Cycle To T+2
- Mar 29 2017
As many investors know, the securities industry settles securities transactions (e.g., the purchase and sale of equities, as well as corporate and municipal bonds) on the third day after a …
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Whistleblower Whose Qui Tam Action Was Dismissed Cannot Share In Related Government Settlement
- Mar 27 2017
This Blog previously wrote about a case involving a whistleblower’s claim, under the “alternate remedy” provision of Section 3730(c)(5) of the False Claims Act (“FCA”), to settlement proceeds obtained in …
The U.S. Government Intervenes In $50 Million Healthcare Fraud Case
- Mar 24 2017
Medicare and Medicaid fraud costs taxpayers billions of dollars each year. In 2016, the Government Accountability Office (“GAO”) estimated that in fiscal year 2015, taxpayers lost almost $90 billion to …
CA Technologies Settles False Claims Allegations for $45 Million
- Mar 22 2017
The Department of Justice (“DOJ”) recently announced that CA Technologies (“CA”) has agreed to pay $45 million to resolve allegations under the False Claims Act related to a General Services …
Finra Proposes Easing Client Communication Rules for Broker Dealers
- Mar 20 2017
The Financial Industry Regulatory Authority, Inc. (“FINRA”) has proposed a rule change that will allow broker-dealers to project the performance of investment strategies or asset allocations, but not specific stocks, in communications …
Another Faithless Servant Required to Forfeit Compensation
- Mar 16 2017
Last November, this Blog discussed the faithless servant doctrine under New York law. (Here.) As explained, the courts have applied the doctrine to a wide variety of misconduct, including, but …
Supreme Court Reinstates Lawsuit Against Banks Under The Implied Certification Theory
- Mar 14 2017
On February 21, 2017, the Supreme Court vacated the judgment in Bishop v. Wells Fargo & Co. and remanded the case to the Second Circuit “for further consideration in light of …
New York Department of Financial Service Phases in CyberSecurity Rules
- Mar 12 2017
The New York Department of Financial Services’ (“DFS”) cybersecurity regulations became effective March 1, 2017, but the rules are slated to be phased in on a rolling basis 180 days …
Spoliation Of Evidence, Even If Done In The Normal Course Of Business, Is Sanctionable
- Mar 8 2017
An important part of any litigation is documentary discovery. As any litigant can attest, especially in complex matters, documents form the foundation of discovery plans and strategies, and, more significantly, …
Confirmation Of Deal With After-The-Fact Terms And Conditions Is Part Of The Original Agreement
- Mar 6 2017
Your client is engaged in negotiations to sell his company’s widgets in a purchase and sale transaction. After months of negotiations, the parties verbally agree to the salient terms of …
