A federal jury in New Jersey found in favor of former sales representatives turned whistleblowers who claimed Janssen Products promoted HIV drugs off-label. All told, the verdict could result in Janssen facing more than $1 billion, one of the largest False Claims Act verdicts, partner Pete Marketos said.
Dallas Boutique Reese Marketos Obtains $150M Verdict Against Janssen Products Over HIV Drugs
A federal jury in New Jersey found Janssen Products violated the federal False Claims Act by unlawfully promoting Prezista or Intelence. But the jury found Janssen did not violate the Anti-Kickback Statute.
Q&A with SEC Associate Regional Director for Enforcement David Fraser
Last fall, the U.S. Securities and Exchange Commission promoted David Fraser to associate regional director for the Fort Worth regional office. Fraser discusses the new role and the challenges and successes he’s had so far in leading enforcement for the FWRO in this Q&A.
SEC on the Lookout for Whistleblower Restrictions
The agency has been very active in whistleblower protection for the last 18 months — with seven cases generating more than $30 million in fines — and now appears to be kicking off an enforcement sweep looking at executive agreements for public companies to determine whether they somehow “inhibit” sharing information with the SEC. This is a timely issue for public company legal departments, especially since the SEC’s most recent cases have expanded what the agency thinks is problematic conduct.
Hill Country Doctor Convicted in $39M Phony Prescription Scam
Dr. David M. Young of Fredericksburg was accused of prescribing orthotic devices and genetic tests for thousands of patients he never met. He was convicted by a jury Friday and is scheduled to be sentenced in October.
Financial Advisor Says Fidelity Fired Him for Reporting Securities Violations
Michael Maeker had been a registered financial advisor for 26 years when he was fired by Fidelity Investments. In a lawsuit filed in federal court Monday, Maeker alleges Fidelity fired him after he raised concerns that the company was violating securities laws by pressuring advisors to invest client funds in a way that was more beneficial to the company’s bottom line than it was to the clients’.
Is it Time to File More Motions to Dismiss in Criminal Cases?
Dismissals by district courts in federal criminal cases are rare — even more so in white collar criminal matters. That is why the recent dismissal in a securities fraud case in the Southern District of Texas is quite notable.
Litigation Roundup: SEC Sued Over Trading Surveillance
In this edition of Litigation Roundup, a man who alleges he was shorted two ounces of beer by Cinemark files a class action lawsuit against the movie chain, an East Texas jury hits Samsung with a $142 million patent infringement verdict in a damages redo trial, and a new SEC trading surveillance initiative draws a constitutional challenge.
SCOTUS Narrows Application of Exchange Act Rule 10b-5(b) to Half-Truths
Until last week, federal circuit courts were split on whether so-called “pure omissions” could support securities fraud claims under Securities Exchange Act Rule 10b-5(b). For those not fluent in the application and enforcement of Rule 10b-5(b), its text does not exactly roll off the tongue and its concepts can be tricky to apply in practice.
Operator of Phony Labs Gets 5 Years in $7M COVID-19 Testing Scam
“I make no excuse for my actions,” Connie Jo Clampitt of Dallas, one of four people to plead guilty in the healthcare fraud case, tells U.S. District Judge Brantley Starr.
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