WASHINGTON – The justices of the U.S. Supreme Court seemed disinclined to allow the Securities and Exchange Commission to file an action for civil penalties nearly a decade after the alleged conduct took place.
Published: December 28, 2012
Tags: bounty provisions, Dodd-Frank Wall Street Reform and Consumer Protection Act, Securities and Exchange Commission, whistleblower
WASHINGTON – In its first full year, a federal whistleblower program that boosted the amount of awards to employees and others who report credible information about fraud and other securities violations spurred more than 3,000 tips and resulted in one five-figure payout.
A corporate employee who was allegedly fired for reporting that his supervisors were violating the company’s pension plan could sue for retaliation under the Dodd-Frank Act, even if he didn’t make disclosures in the form ordinarily required by the Securities and Exchange Commission, a U.S. District Court in Connecticut has ruled in denying a motion to dismiss.
The U.S. Supreme Court will decide when the limitations period applicable to a penalty action brought by the federal government commences to run in the absence of a separate controlling provision enacted by Congress.
Drug maker Pfizer and its affiliates have settled nearly half of the product liability claims involving the hormone-replacement therapy drugs Prempro, Premarin and Provera, according to a regulatory filing.
A lawyer could discharge in his bankruptcy case a $581,000 disgorgement order relating to federal securities violations, 9th Circuit has ruled in reversing judgment.
A service management company cannot be liable under Securities and Exchange Commission Rule 10b-5 for alleged securities violations of the mutual funds it sponsors.
WASHINGTON – Individuals who provide the Securities and Exchange Commission with credible whistleblower information will receive substantially boosted bounty awards under new rules issued by the agency.
A national teachers union did not violate ERISA by endorsing and aggressively marketing certain tax-sheltered annuities to its members, the 9th Circuit has ruled in affirming a dismissal.