Legal and Regulatory Developments SPOTLIGHT: Visa Settles Discover Unit’s Antitrust Lawsuit Over Debit Card Network Reuters – June 14, 2024 Discover Financial Services unit Pulse Network has agreed to settle a lawsuit in Texas accusing Visa of obstructing competition in the multibillion-dollar debit card network services market, causing merchants to [...]
In another significant victory for cryptocurrency investors (following this one we wrote about 3 weeks ago), New York Attorney General Letitia James has secured at $50 million settlement from Gemini Trust Company, LLC. This recovery benefits over 230,000 investors nationwide who were allegedly defrauded through the Gemini Earn program. [...]
Here are some of the developments in antitrust news this past week that we found interesting and are following. Sony Pictures Acquires Alamo Drafthouse in Lifeline to Cinema Chain. Sony Pictures Entertainment is acquiring Alamo Drafthouse Cinema and will manage its 35 locations, a rare example of a traditional [...]
On June 17, the Commodity Futures Trading Commission (CFTC) awarded over $8 million to an insider whistleblower whose critical information and assistance led to multiple enforcement actions by the CFTC and other agencies. This significant payout underscores the vital role of whistleblowers in maintaining the integrity of the commodities markets. [...]
In a recent feature on LAW360, Marlene Koury, a partner at Constantine Cannon, weighed in on the Department of Justice’s (DOJ) decision to intervene in the case of U.S. v. All Heart Pharmacy Inc. et al. This case, which centers around a Florida-based compounding pharmacy, highlights the DOJ’s intensified efforts [...]
The U.S. Attorney’s Office for the Southern District of New York has filed a civil fraud suit against LabQ Clinical Diagnostics, LLC (LABQ), Community Mobile Testing, Inc. (CMT), Dart Medical Laboratory, Inc. (DART MEDICAL), and their CEO, Moshe Landau. According to a June 13, 2024, press release by the US [...]
While the lazy days of summer may be upon us, there seems to be no slowing down in the efforts of the Department of Justice (DOJ) to combat fraud with the agency settling several False Claims Act matters covering a wide range of fraud and misconduct. This follows a similar post [...]
Legal and Regulatory Developments SPOTLIGHT: Why Illinois’ Budget Bill Has Bankers Sounding the Alarm American Banker – June 10, 2024 (subscription required) A first-of-its-kind swipe fee measure recently passed in Illinois could have dramatic implications for banks both within and beyond the state’s borders, experts say. Illinois Gov. J.B. Pritzker, [...]
Several nonprofit organizations have agreed to pay over $5.8 million in a settlement for allegations of obtaining Paycheck Protection Program (PPP) loans, the DOJ reported. The U.S. Attorney’s Office for the Southern District of California announced these settlements on June 12, 2024. The allegations revolve around violations of the False Claims [...]
Last Friday, the DOJ (Department of Justice) reported that City Medical of the Upper East Side, PLLC, and its affiliates, collectively known as CityMD, agreed to a settlement of $12 million in connection with alleged fraud related to COVID-19 testing, treatment, and vaccine administration for uninsured individuals. Between a two-year [...]
