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Results: 1-10 of 34

Whistleblowers rewarded again by SEC and the judiciary

  • Epstein Becker Green
  • -
  • USA
  • -
  • September 11 2014

On August 29, 2014, two whistleblower developments of particular interest to health care and life science entities emerged from the Securities and

FCPA anti-corruption developments: 2012 end of summer round-up

  • Morrison & Foerster LLP
  • -
  • China, France, Global, Haiti, India, Mexico, United Kingdom, USA
  • -
  • October 10 2012

While the temperatures rose this summer, the number of Foreign Corrupt Practices Act enforcement actions seems to have cooled off for the first time in the last five years

Supreme Court grants cert to determine if plaintiff must prove materiality before certifying class in securities fraud class action

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • June 12 2012

On Monday, June 11, 2012, the Supreme Court granted a Writ of Certiorari in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085 (U.S. Jun. 11, 2012) to decide whether, in a misrepresentation case under SEC Rule l0b-5, the court must require proof of materiality before certifying a plaintiff class based on the fraud-on-the-market theory (and whether the court must allow the defendants to present evidence rebutting the applicability of the fraud-on-the-market theory before certifying the class

U.S. Supreme Court Matrixx decision rejects statistical significance as bright-line test of materiality

  • Hogan Lovells
  • -
  • USA
  • -
  • April 11 2011

In its unanimous opinion in Matrixx Initiatives, Inc. v. Siracusano issued on March 22, the U.S. Supreme Court reaffirmed its long-established standard for determining materiality with respect to securities fraud claims under Section 10(b) of the Securities Exchange Act of 1934 and the SEC's Rule 10b-5

Pharmaceutical and other companies beware: new Supreme Court decision weighs in on adverse event reports and potential liability under federal securities laws

  • Squire Patton Boggs
  • -
  • USA
  • -
  • March 23 2011

In 2010 the US Supreme Court agreed to hear another securities fraud case Matrixx Initiatives, Inc. v. Siracusano which could significantly increase pharmaceutical and other companies’ exposure under federal securities laws, especially those companies that make disclosure decisions based on the statistical significance of certain events

SEC files another fraud action tied to the municipal bond market

  • Dorsey & Whitney LLP
  • -
  • USA
  • -
  • September 15 2013

The SEC filed another settled financial fraud action tied to the municipal bond market which is clearly an area of increasing focus. This proceeding

Two recent false claims decisions issued by the federal courts

  • Bricker & Eckler LLP
  • -
  • USA
  • -
  • May 25 2011

On May 16, 2011, the U.S. Supreme Court ruled that False Claims Act (FCA) cases brought by whistleblowers who base their allegations on information found in records released by federal agencies pursuant to a Freedom of Information Act (FOIA) request are subject to the “public disclosure” bar

2013 year-end Foreign Corrupt Practices Act update

  • Baker & Hostetler LLP
  • -
  • Libya, USA
  • -
  • February 10 2014

The third and fourth quarters of 2013 proved to be eventful and poten- tially prophetic as to the course the Foreign Corrupt Practices Act ("FCPA"

Recent insider trading case sparks concerns over leaked clinical trial results

  • Choate Hall & Stewart LLP
  • -
  • USA
  • -
  • December 20 2012

The Martoma insider trading case is the latest in, and largest of, a string of actions brought by the Securities and Exchange Commission related to the alleged misuse of confidential clinical trial information by life sciences companies and third parties with access to this information

Courts issue contrary rulings re statements touting compliance program

  • Jenner & Block
  • -
  • USA
  • -
  • June 5 2013

Two district courts recently reached different conclusions regarding whether investors may proceed on a securities fraud claim based in part on