Here are some of the developments in antitrust news this past week that we found interesting and are following. Spirit Airlines Is on Shaky Footing After Judge Blocks JetBlue Deal. Spirit Airlines, once a fast-growing low-cost carrier, is struggling to convince investors that it has a clear path forward [...]
Silver Lake Hospital, operating as Columbus LTACH in Newark, New Jersey, and certain investors recently agreed to pay a combined $30.6 million to settle False Claims Act allegations relating to Medicare payments and violations under the Federal Debt Collection Procedures Act (FDCPA). Silver Lake is a long-term care hospital a [...]
2023 was another big year for whistleblowers, helping the government recover billions of dollars in dozens of fraud enforcement actions. As usual, virtually all these whistleblower-prompted recoveries were under the government’s three primary whistleblower rewards programs — the False Claims Act, the SEC Whistleblower Program, and the CFTC Whistleblower Program. [...]
The Foreign Corrupt Practices Act (FCPA) bars payments to foreign officials for any kind of business advantage, such as securing government contracts or other kinds of favorable business treatment. The statute covers any form of consideration including gifts, meals, travel, and entertainment. It also imposes strict record-keeping and internal control [...]
Legal and Regulatory Developments SPOTLIGHT: States Race Ahead of US Lawmakers in Payments Payments Dive – January 12, 2024 The federal government has made a valiant effort to keep up with the fast-changing world of payments, but it’s falling behind the 50 states lately. New York is a striking example of [...]
Add JP Morgan Securities to the ever-expanding list of companies the Securities and Exchange Commission (SEC) has gone after for violating the agency’s Whistleblower Protection Rule — SEC Rule 21F-17(a). This rule broadly prohibits companies from taking any action to impede or discourage whistleblowers from reporting suspected securities violations to [...]
It was a relatively quiet year for the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in their payout of whistleblower awards under their respective whistleblower programs. Under the SEC Program and CFTC Program — both enacted under the Dodd-Frank Wall Street Reform and Consumer Protection Act [...]
This week’s Department of Justice (DOJ) Catch of the Week goes to SAP SE. On Wednesday (January 10), the German-based software company agreed to pay roughly $220 million to settle DOJ and SEC charges of violating the Foreign Corrupt Practices Act (FCPA) through bribes to government officials in South Africa [...]
RDx Bioscience Inc. (“RDx”), a clinical laboratory that operated in New Jersey, and its owner and CEO agreed to pay $13.25 million to settle a False Claims Act case alleging kickbacks and unnecessary testing schemes, according to a recent DOJ press release. The press release also notes that RDx and [...]
Legal and Regulatory Developments SPOTLIGHT: 6 Payments Trends to Watch in 2024 Payments Dive – January 9, 2024 Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year. Battles over card interchange fees, also known as swipe fees, [...]
