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Raymond N. Barto

Turncoat Ranks Grow in the DOJ’s Industry-Wide Generic Drug Price-Fixing Investigation

Posted by Raymond N. Barto on 12/12/2019

Generic drug manufacturer Rising Pharmaceuticals Inc. recently entered a Deferred Prosecution Agreement (DPA) to resolve a one-count indictment, announced by the Department of Justice the same day. Rising was charged with conspiring to fix prices and allocate customers for the drug Benazepril HCTZ. In exchange for the DPA, Rising has agreed ...

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Alex Hartzband

Survey: As Many As 60 Million Workers in the U.S. Are Bound by Non-Compete Agreements

Posted by Alex Hartzband on 12/10/2019

According to a recent survey by the Economic Policy Institute and the Survey Research Institute at Cornell University, a staggering proportion of the private-sector workforce in the U.S. is bound by non-compete agreements. Specifically, the survey found that anywhere from 28 to 47 percent of employees – in other words, approximately 36 to ...

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Katherine M. Lenahan

I only invested in options. Am I a class member?

Posted by Katherine M. Lenahan on 12/10/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575588968-i-only-invested-in-options-am-i-a-class-member.mp4 If you only invested in options, then you may or may not qualify as a class member, depending upon the class definition alleged in the complaint. Some class actions include only purchasers who transacted in common ...

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Katherine M. Lenahan

What is the lead plaintiff deadline?

Posted by Katherine M. Lenahan on 12/10/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575588554-what-is-the-lead-plaintiff-deadline.mp4 The lead plaintiff deadline is the last day that an investor may file a motion with the court requesting to be appointed as the lead plaintiff for that action. When a securities class action is initiated, the person who files ...

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Dillon Hagius

Equifax Data Breach Update

Posted by Dillon Hagius on 12/09/2019

On July 22, 2019, Equifax, one of the nation's three large credit reporting agencies, settled a lawsuit brought by the Federal Trade Commission ("FTC"), the Consumer Financial Protection Bureau ("CFPB"), and 50 U.S. states and territories. The lawsuit alleged that Equifax's failure to take reasonable steps to secure its network—which contained ...

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Richard W. Gonnello

SEC’s Recent Cryptocurrency Comments

Posted by Richard W. Gonnello on 12/09/2019

On November 6, 2019, the SEC's Division of Enforcement published its 2019 Annual Report ("Report"). This Report highlighted many of the Division's 2019 actions. Notably, it mentioned the Division's recent actions against fraudulent issuers of cryptocurrency—digital assets designed to work as a mediums of exchange that use cryptography, or ...

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Megan Sullivan

SEC Proposes Modernized Derivatives Regulations

Posted by Megan Sullivan on 12/09/2019

On November 25, 2019, the United States Securities and Exchange Commission ("SEC") voted to propose a new rule designed to improve the regulation of derivative securities used by investment companies, including mutual funds and exchange-traded funds ("ETFs"). In light of the growing trend in the investment fund industry of using derivatives ...

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Michael Van Gorder

Calumet Fined $250,000 for Hasty Earnings Release

Posted by Michael Van Gorder on 12/05/2019

On November 25, 2019, Calumet Specialty Products Partners, L.P. ("Calumet") agreed to pay the SEC a $250,000 fine stemming from material misstatements the Company made regarding its 2017 financial results. In September 2017, Calumet disclosed that its internal control over financial reporting ("ICFR") was ineffective due to the implementation ...

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Patrick J. Collopy

$26 Million Dollar Settlement to California McDonald’s Employees for Wage Theft

Posted by Patrick J. Collopy on 12/04/2019

On November 22, 2019, McDonald's agreed to pay $26 million to a class of California employees for various wage violations. The settlement provides relief to approximately 38,000 current and former McDonald's employees that worked at California restaurants at any time since 2009. Employees claim McDonald's violated California labor law by, ...

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Faruqi & Faruqi

Why does false advertising occur? Can I sue a company because of something on the label of the product or an advertisement?

Posted by Faruqi & Faruqi on 12/03/2019

See informative video here: https://www.faruqilaw.com/uploads/blog/1575416516-why-does-false-advertising-occur-can-i-sue-a-company-because-of-something-on-the-label-of-the-product-or-an-advertisement.mp4 Oftentimes, when people think of false advertising, they imagine television ads or representations made by a car salesman. While advertisements ...

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