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There is now objective proof that, for whistleblowers seeking
substantial bounties for reporting alleged corporate fraud, the
False Claims Act is not the only game in town. Indeed, with
this week's announcement by the SEC, it appears that
whistleblowers and their counsel can look to the SEC's
whistleblower program, initiated in response to a directive in the
Dodd-Frank Wall Street Reform and Consumer Protection Act,
see
FraudMail Alert No. 10-12-08, as an alternate or additional
avenue for recovery in appropriate cases.
Given the significance of this development, we thought that many
of our FraudMail Alert readers would be interested in the
Firm's
SEC Mail No. 12-08-22 discussing the details of the SEC's
award as well as its implications for corporate compliance
programs.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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In its first public Policy Statement regarding the treatment of cooperation in investigations, the Public Company Accounting Oversight Board provided guidance on how it will consider a firm’s or associated person’s "extraordinary cooperation".
After a two-week trial before United States District Court Judge Edward Chen of the Northern District of California, David Nosal was convicted of three counts of violating the Computer Fraud and Abuse Act.
The U.S. Court of Appeals for the Second Circuit in United States v. Walsh ruled that the defendant could not use the proceeds from the sale of his house to fund his criminal defense because he used tainted funds to obtain the home.
In Commonwealth v. Nies, No. 5793-2012 (Pa. Ct. Com. Pl, Apr. 18, 2013), the Honorable John A. Boccabella of the Berks County Court of Common Pleas applied a somewhat rare exception to the requirement that those who do not submit to a blood test in connection with a DUI investigation are subject to enhanced sentencing requirements.
Last week, Liverpool striker Luis Suarez was suspended for 10 games for biting a Chelsea player during a globally broadcasted English Premier League game.
On March 26, 2013, the Office of Inspector General published much-awaited guidance on physician-owned medical device distributorships (commonly known as "PODs") in the form of a Special Fraud Alert.
