False Claims Act - When Does Embellishing Become Fraud?
What is Fraud and How to Defend Against the Claim
Small Business Administration head Kelly Loeffler has announced a “full-scale” audit of its 8(a) program for socially and economically disadvantaged small business owners, directing the agency’s Office of Government...more
The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more
On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more
Customer donation programs work. Although consumer fatigue with answering round-up and add-a-dollar prompts is on the rise, these point-of-sale fundraising campaigns have become effective tools for nonprofits to fundraise and...more
Individuals continue to face risk from prosecutions for economic crime, despite media focus on corporate criminal liability reforms. Four individuals have today appeared at Westminster Magistrates’ Court charged with fraud...more
The Federal Trade Commission (FTC or Commission) and the Utah Division of Consumer Protection (DCP or Division; collectively with the FTC, Plaintiffs) brought law enforcement actions against defendants Nudge LLC, Dean...more
The federal wire fraud statute has always been a favorite of federal prosecutors. The statute prohibits individuals and companies from using deceit or false statements to defraud others out of their money or property. Through...more
The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more
On May 13, 2022, a putative class action was filed in federal court against an online secondary marketplace that sells luxury goods (e.g., sneakers, handbags, and electronics) and, recently, non-fungible tokens (NFTs) that...more
Frequently, judicial opinions cite the cases that say settlement of disputes ranks high in New Jersey’s public policy. Accordingly, it is very difficult to get a trial court to set aside, and most of the time, a motion to...more
Partner Steven Malitz discusses the elements of a fraud claim and advises business owners and entrepreneurs on how to defend against such a claim....more
While the global pandemic may have disrupted many industries, it has not stopped plaintiffs from continuing to file COVID-19-related securities fraud class actions under Section 10(b) of the Securities Exchange Act. As we...more
Decision affirms long-standing market convention. On May 22, 2020, Judge Gardephe of the US District Court for the Southern District of New York held that syndicated term loans do not constitute securities under various...more
On March 28, 2019, Judge William H. Pauley of the United States District Court for the Southern District of New York granted a motion to dismiss a putative securities class action asserting claims under the Securities...more
I recently covered liability under Sections 11 and 12 of the Securities Act of 1933 in the securities regulation course that I teaching at the University of California, Irvine School of Law. Thus, I was interested to read a...more
In a January 19, 2016 Commercial Division decision by Justice Bransten, the court granted defendants’ motions to dismiss on the grounds of in pari delicto....more
The U.S. Court of Appeals for the Tenth Circuit reversed a conviction for making a false statement to the U.S. Patent and Trademark Office (USPTO), holding that a false statement is not material if it could not influence the...more
Investment Adviser Chief Compliance Officer Blamed in SEC Lawsuit for President’s Theft of Client Funds; SEC Commissioner Criticizes Enforcement Actions Against CCOs Generally - The Securities and Exchange Commission...more
In the wake of the market crisis and the formation of a task force, the SEC has sought to focus in part on financial fraud actions. The action filed at the close of last week against Computer Sciences Corporation and seven of...more
A New York district court held that surcharge could include not only make-whole relief, but also consequential, exemplary, or punitive damages in limited circumstances where malice or fraud is involved. Plaintiff Janet...more
Last month, in Prousalis v. Moore (May 7, 2014), a criminal securities fraud case, the Fourth Circuit held that the Supreme Court’s interpretation of Rule 10b-5(b) in Janus Capital Group, Inc. v. First Derivative Traders...more
In our blog post dated April 29, 2013, Matthew Fischer discussed the case Lerner v. DMB Realty, LLC (Arizona Court of Appeals, November 27, 2012). In that case, the Arizona Court of Appeals addressed, among other things, the...more
To best understand this decision, we need to look at the rules concerning both class actions and securities: - According to Rule 23(b)(3), a class action may be maintained if the court finds that questions of law or...more