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Megan Sullivan

Congressional Committee Pushes for Tighter Restrictions On The Sale Of Unregistered Securities

Posted by Megan Sullivan on 09/20/2019

Earlier this month members of the house Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets urged Congress to adopt more robust regulations on the sale of unregistered securities. The discussion centered around eight legislative proposals that are designed to address the risks facing investors from the growth of private ...

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Dillon Hagius

Opioid Litigation Watch : Johnson & Johnson Ordered To Pay Oklahoma $572 Million

Posted by Dillon Hagius on 09/12/2019

On August 26, 2019, an Oklahoma state court held Johnson & Johnson liable for causing the opioid crisis under an Oklahoma public nuisance law in one of the nation's first opioid crisis cases to go to trial. The court ruled that Johnson & Johnson was responsible for causing the opioid crisis by exaggerating the benefits of its narcotic painkillers ...

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Raymond N. Barto

Pressure Mounts as State Attorneys General Launch Antitrust Investigations into Facebook and Google

Posted by Raymond N. Barto on 09/10/2019

Big tech is facing antitrust scrutiny from all sides as coalitions of state attorneys general launch investigations into Facebook and Google, reinforcing the already-initiated federal investigations into possible anticompetitive conduct by the tech giants. Letitia James, Attorney General for the State of New York, announced an investigation ...

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Bradley J. Demuth

Judge Finds No Surgery Required to Sustain the Plausibility of the Overarching Conspiracy Alleged in the Generic Pharmaceuticals Pricing Antitrust Litigation

Posted by Bradley J. Demuth on 08/20/2019

On August 15, 2019, the United States District Court for the Eastern District of Pennsylvania overseeing the Generic Pharmaceuticals Pricing Antitrust Litigation multidistrict litigation ("MDL") denied in full generic drug manufacturer defendants' motion to dismiss plaintiffs' overarching conspiracy claims, concluding that the "connective ...

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Katherine M. Lenahan

Lost Cryptocurrency Value Reportedly Surpassed $4.26B Globally in 2019

Posted by Katherine M. Lenahan on 08/15/2019

On Tuesday, August 13, 2019, the cryptocurrency intelligence firm CipherTrace released its Q2 2019 Cryptocurrency Anti-Money Laundering Report, which analyzes cryptocurrency-related crime and countries' efforts to regulate the cryptocurrency economy. The firm reported that over $4.26 billion in cryptocurrency holdings were lost worldwide in ...

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Joshua Nassir

Capital One Data Breach Exposes Sensitive Data of Over 100m Americans

Posted by Joshua Nassir on 08/05/2019

On July 29, 2019, Capital One announced the theft of over 100 million of its customers' private information, including social security and bank account numbers, resulting from a cybersecurity attack against its data systems. The hacker exploited vulnerabilities in Capital One's infrastructure located on its Amazon Web Server. Faruqi & Faruqi ...

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Maxwell Michael

SEC Proposes Amendments to Financial Disclosure Rules for Acquired and Disposed Businesses

Posted by Maxwell Michael on 07/30/2019

On May 3, 2019, the Securities and Exchange Commission ("SEC") released newly proposed amendments to the financial disclosure requirements for acquired and disposed businesses and other related rules. The proposals stem from the SEC's Disclosure Effectiveness Initiative whereby the SEC has been reviewing Regulation S-X and Regulation S-K in ...

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Kristyn Fields

Connecticut Denies Violating Protective Order in Generic Drug Price-Fixing Case

Posted by Kristyn Fields on 07/29/2019

Connecticut's Attorney General recently opposed a motion from Heritage Pharmaceuticals that claims that it violated the protective order in a price-fixing case against generic drug manufacturers by referring to an email in its complaint suggesting that Heritage and two other generic companies, Mylan Inc. and Teva Pharmaceuticals, tried to ...

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Dillon Hagius

Equifax Settles Data Breach Lawsuit

Posted by Dillon Hagius on 07/24/2019

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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Alex B. Heller

Jury Finds Platinum Partners Executives Guilty of Securities Fraud

Posted by Alex B. Heller on 07/11/2019

A federal jury in the Eastern District of New York convicted two executives of the defunct hedge fund Platinum Partners L.P. ("Platinum") of securities fraud, securities fraud conspiracy and wire fraud conspiracy. Mark Nordlicht ("Nordlicht"), the founder and Chief Investment Officer of Platinum, and David Levy ("Levy"), the co-Chief Investment ...

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