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Ex-GC Awarded $8 Million For Retaliatory Firing

Written by David A. Nenni and Jessica L. Sussman A California federal jury awarded Sanford Wadler, former General Counsel of Bio-Rad Laboratories, $8 million for his claims against his former employer under the whistleblower provisions of Sarbanes-Oxley (SOX) and the Dodd-Frank Acts (DFA). This case implicates a number of key issues confronting companies and their … Continue Reading

Fourth Circuit Upholds Sarbanes-Oxley Whistleblower Retaliation Finding and Substantial Monetary Award

On May 20, 2015, a split Fourth Circuit panel ruled Deltek, Inc., a Virginia-based software and information services provider, must pay a terminated whistleblower four years of front wages and thirty thousand dollars ($30,000) in college tuition. In doing so, two thirds of the panel affirmed the U.S. Department of Labor’s Administrative Review Board’s determination … Continue Reading

California Federal Court Adds to Debate over Scope of Dodd-Frank Act Anti-Retaliation Protection

Written by Joseph C. Toris and Eliza L. Lloyd In a decision perhaps overshadowed by the Second Circuit’s subsequent decision in Berman v. Neo@Ogilvy LLC, 14-4626 (2d Cir. Sept. 10, 2015) two days later, a district court in California has added to the growing split among federal courts on the scope of the Dodd-Frank Act’s anti-retaliation … Continue Reading

Insufficient Evidence of Actual Losses Frustrates Company’s Restitution Bid under MVRA, Court Rules

The Mandatory Victims Restitution Act of 1996 (“MVRA”) provides that defendants convicted of crimes committed by “fraud or deceit” to compensate victims for the full amount of their losses. The federal court of appeals in Denver has held that mere estimates of a company-victim’s expenses in investigating the defendant’s theft of approximately $50,000 worth of … Continue Reading

Corporate Executives Sentenced to Prison for $3.4M Kickback Scheme

Two former executives at one of the nation’s leading healthcare claims processing firms, MultiPlan, Inc., were recently sentenced to serve one year and one day in federal prison for their role in a scheme to steer contracts to technology vendors in exchange for $3.4 million in bribes and kickbacks. Keith Bush, MultiPlan’s former Vice President … Continue Reading

Employer Restitution under Victim Restitution Law (MVRA) Not Offset by Employee’s Canceled Stock Options, Court Rules

The Mandatory Victim Restitution Act of 1996 (“MVRA”) provides that defendants convicted of crimes committed by “fraud or deceit” compensate victims for the full amount of their losses.  Whether the amount of restitution may be offset if an employer-victim actually profited from the fraud or deceit has been a question for the courts. According to … Continue Reading

Rules for Whistleblower Investigations Under the Consumer Financial Protection Act of 2010 Establish Procedural Road Map for Employers

While the primary goal for employers should be avoiding employment retaliation claims in the first instance, when an employer is faced with such a claim under the Consumer Financial Protection Act of 2010 (CFPA), it has the Department of Labor’s basic procedural road map as a guide to what to expect. On April 3, 2014, … Continue Reading

MYSTERY PLANE AND LESSONS LEARNED FOR THE FOREIGN CORRUPT PRACTICES ACT

A few days ago, the New York Times printed a photo of an U.S. registered Bombardier Challenger private jet at the Tehran airport that turned out to be registered to the Bank of Utah, a small community bank in Ogden, Utah, that apparently holds the trust certificates for many aircraft.  Later, it was reported that … Continue Reading

For Business: World Bank’s Anti-Corruption Ethics and Compliance Resource

An effective anti-corruption program is important for any company covered by Foreign Corrupt Practices Act (“FCPA”), which bars American companies from bribing officials overseas. The World Bank and its partners have released the “Anti-Corruption Ethics and Compliance Handbook for Business,” billed as a new resource developed by companies, for companies. (Available at http://www.oecd.org/g20/topics/anti-corruption/anti-corruption-ethics-and-compliance-handbook-for-business.htm.) The Handbook … Continue Reading
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