On Wednesday (December 4), President-elect Donald Trump nominated Paul Atkins to take over the helm of the Securities and Exchange Commission (SEC) when Gary Gensler steps down in January. Trump posted the announcement on his Truth Social platform where he hailed the incoming SEC Chief as “a proven leader for [...]
Legal and Regulatory Developments SPOTLIGHT: Musk Calls for End to CFPB Banking Dive – November 27, 2024 Business mogul and presumed Trump Cabinet appointee Elon Musk called for the elimination of the Consumer Financial Protection Bureau, in a post Wednesday on social media platform X, which he owns. “Delete CFPB. [...]
John Lennon, like so many of our music icons, was as much about the message as the music. In addition to his mellifluous melodies, Lennon was known for his outspoken political activism and unbridled willingness to challenge societal norms. He often used his music as a platform to express his [...]
The Securities and Exchange Commission (SEC) recently issued its Annual Report to Congress detailing the results of the SEC Whistleblower Program over the past fiscal year. Under the SEC’s program, individuals who provide information to the agency concerning potential securities violations that leads to a successful enforcement action may receive [...]
Gen Digital Inc. (formerly Symantec Corp.) knowingly overcharged the General Services Administration. Now the company is required to pay a hefty judgment after a decade of False Claims Act litigation. Located in Tempe, Arizona, Gen Digital Inc. will pay $55.1 million. The company is required to shell out $16.1 million [...]
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 [...]
