The SEC continues to go after pharmaceutical companies for securities law violations in connection with misleading investors. The most recent example is the SEC’s settled charges against a publicly traded biotherapeutics company called Kiromic BioPharma, Inc. (KRBP), the company’s former CEO, and its former chief financial officer. In this case, [...]
When foreign agents attempt to exploit and bribe their way through the U.S. whistleblower programs, the consequences are severe. On November 19, 2024, John Chen, 71, was sentenced to 20 months in prison for acting as an unregistered agent of the People’s Republic of China (“PRC”) and attempting to manipulate [...]
Dell Technologies, Inc. and Dell Federal Systems L.P. (“Dell”), based in Austin, Texas, have agreed to pay $2.3 million to settle allegations of violating the False Claims Act. The allegations stem from claims that Dell submitted, and caused the submission of, non-competitive bids to the U.S. Army, resulting in overcharges [...]
U.S. Forest Service archaeologist Scott Ashcraft knew western North Carolina’s woods contained critical information about human history in the Appalachian Mountains. For years, Ashcraft’s attempts to alert forest managers were ignored. Ashcraft believed outdated modeling overlooked artifacts buried on steep terrains, including significant areas for Native American tribes. Based on [...]
Yesterday (November 21), the Securities and Exchange Commission (SEC) announced current SEC Chair Gary Gensler will leave the agency on January 20, 2025 when President-elect Donald Trump takes office. Gensler’s departure is no surprise as Trump has made it clear he would be appointing someone else to take over as [...]
As it is required to do every year, the Commodity Futures Trading Commission (CFTC) just released its Annual Report on the CFTC Whistleblower Program, which provides rewards and protections to whistleblowers providing the agency with information on Commodities Exchange Act violations. The 2024 Report covers the period from October 1, [...]
The Hippocratic Oath was apparently not an ethical pledge Dr. Kenneth Fishberger took to heart. On Thursday, November 14, 2024, New York doctor Dr. Fishberger, 75, pleaded guilty in Boston federal court to one count of conspiracy to commit healthcare fraud. Fishberger, an internist from East Setauket, N.Y., received kickbacks [...]
Legal and Regulatory Developments SPOTLIGHT: A Senate Panel Sends a Signal: Time to Cut a Deal on Swipe Fees Digital Transactions News – November 20, 2024 Members of the Senate Judiciary Committee told representatives of Visa Inc., Mastercard Inc., and the merchant community on Tuesday it was time to “negotiate” [...]
Last Friday (November 15), Florida-based pharmaceutical company QOL Medical and its CEO Frederick Cooper agreed to pay $47 million to resolve Department of Justice (DOJ) and whistleblower charges they violated the False Claims Act and Anti-Kickback Statute by providing patients free breath testing services to induce them to purchase QOL’s [...]
On November 12, the Department of Justice (DOJ) announced that Virginia-based contractor Paragon Systems agreed to pay $52 million to settle DOJ and whistleblower charges of violating the False Claims Act by fraudulently securing government security contracts set aside for small businesses owned by women and veterans. Paragon is one [...]
