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On Thursday, December 5, 2013 Morvillo Abramowitz partner Judy Mogul will speak at the New York State Bar Association’s Federal Civil Practice CLE Program. Ms. Mogul’s panel, “Commencement of the Action,” will focus on: Subject Matter Jurisdiction and Removal, Personal Jurisdiction and Venue, and Complaint and Answer. She will be joined by Daniel D. Edelman, Esq., Crowell & Moring LLP and Andrew J. Melnick, Esq., Schindler, Cohen & Hochman LLP. The NYSBA’s Federal Civil Practice CLE Program will be held December 5 at the Radisson Martinique in New York City. Other topics include: Ethics In New York’s Federal Courts, Motion Practice, Discovery, Depositions, Trials and Federal Rules of Evidence, and A View from the Bench. For more information, please click here.
Should College Athletics Go Corporate? - 12.04.2013
Athletics can be an important part of the college experience, helping to build a sense of community and loyalty that can last a lifetime. While some have advocated paying college athletes to address the perceived hypocrisy of student-athletes generating millions in revenues in exchange for scholarships, that step will not mitigate many of the risks facing athletic departments. Rather, colleges and universities should follow the lead of corporate America and invest in their compliance programs in light of the potentially devastating impact of sanctions. [...]
Second Circuit to Resolve Split on Insider Trading - 12.03.2013
This article, “Second Circuit to Resolve Split on Insider Trading,” examines an issue regarding the boundaries of insider trading law that has divided lower courts – whether a "tippee" must have knowledge that the insider received a personal benefit.
Released late last week, the Securities and Exchange Commission’s 2013 Annual Report on the Dodd-Frank Whistleblower Program (the “Report”) revealed that the program has continued to grow in popularity. The Report, however, also reveals the seeds of what may become the program’s future tribulations.
As anticipated, the program certainly appears to be attracting more participants both at home and abroad. The SEC previously reported that it received 3,001 tips, complaints and referrals for fiscal year 2012. That number was up roughly 8%, for a total of 3,238 tips for fiscal year 2013, bringing the total number of tips from whistleblowers since the program’s inception in August 2011, to 6,573. Moreover, the number of those tips, complaints, and referrals which originated from abroad increased by almost 25% in fiscal year 2013 – from 324 in fiscal year 2012 to 404 in fiscal year 2013. The Report also demonstrated that the vast majority of the tips continue to come from generally the same states and countries as they did in 2012, with California, New York, Florida and Texas again leading the pack for the states, and China outpacing India (which fell to fifth place behind Russia this year) to take over the number three spot behind the leaders for the past two years, United Kingdom and Canada. [...]
25th Annual Fraud, Asset Tracing & Recovery Forum - 11.18.2013
On November 18, 2013, Morvillo Abramowitz Partner Jeremy Temkin will speak on a panel at the 25th Fraud, Asset Tracing & Recovery Forum titled “Comparing Developments in Ancillary Remedies for Use in Asset Recovery Cases in Canada and the U.S.” The panel’s scope will focus on: The Use of Norwich Pharmacal Orders Within and Between Canada and the U.S., Mareva Injunctions and the Anton Piller Orders – How Readily Are They Available?, The Use of Receivers As An Aid in the Process, What Processes and Procedures Do You Have to Follow to Freeze Assets or Get a Civil Search Warrant in the U.S. and How Do They Compare With Canada?, and The Use of 28 U.S.C. 1782 – Can You Get Them Under Seal?. Mr. Temkin will be joined by Munaf Mohamed, Partner, Co-Head of Fraud Law Calgary Bennett Jones LLP (Canada) and Jim Patterson, Partner, Co-Head of Fraud Law Toronto Bennett Jones LLP (Canada). The 25th Fraud, Asset Tracing & Recovery Forum will be held November 18-19, 2013 at the Palms Hotel and Spa in Miami, Florida. For more information on the forum, please click here.
With the aggressive pursuit of cases against the pharmaceutical and device industries (including the recent $2.2 billion settlement with Johnson & Johnson), the implementation of Medicare Fraud Strike Forces in major cities throughout the country, and an increase in the potential criminal penalties under the United States Sentencing Guidelines, the federal government’s determination to root out health care fraud has long seemed vigorous and unrelenting. The government has repeatedly touted its continuing dedication to fighting waste and abuse in health care, and has treated this dedication as part and parcel of its efforts to implement health care reform. Indeed, in a press release issued after the enactment of the health-care reform law, the Department of Health and Human Services (HHS) proclaimed that joint efforts on the part of HHS and the Department of Justice to fight fraud and abuse in the health care industry “will continue to improve with the new tools and resources provided by the Affordable Care Act.” [...]
The 2014 edition of Benchmark Litigation ranked Morvillo Abramowitz as a first tier national firm in the area of White Collar Crime. The firm also received top-tier recognition as a Highly Recommended firm in New York. Partners Elkan Abramowitz, Robert Anello, Paul Grand and Lawrence Iason have been ranked as "National Litigation Stars" and "Local Litigation Stars - New York" in the area of White Collar Crime. Partner Richard Weinberg has been ranked as a "Local Litigation Star - New York" and partners Richard Albert, Stephen Juris and Jonathan Sack have been recognized as "Future Stars."
Praising the firm for its white collar, commercial, and securities expertise, Benchmark Litigation heralded the firm as "another boutique that boasts brand name-level status among peers, many of them at much larger and more diverse firms."
Benchmark Litigation, published by Euromoney Legal Media Group, bases its recommendations on interviews with the nation's leading private practice lawyers and in-house counsel.
The Supreme Court’s June 2013 decision United States v. Salinas raised a few eyebrows among white-collar practitioners because its focus on the need to expressly invoke the Fifth Amendment in order to obtain its protections had broad potential implications. In a recent decision, United States v. Okatan, the Second Circuit correctly answered the question the Supreme Court avoided in Salinas, and also confirmed the long accepted principle that asking for counsel is effective to invoke the Fifth Amendment. Although, like Salinas, Okatan was not a white-collar case, its reasoning and result will be welcome to anyone concerned about the rights of those facing law enforcement scrutiny in the business context, or any other. [...]
Understanding Anti-Whistleblower Protocols - 11.06.2013
The Knowledge Group/The Knowledge Group Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced that Morvillo Abramowitz Partner Jonathan Sack will speak at the Knowledge Congress' webcast entitled: "Understanding Anti-Whistleblower Protocols for Companies." This event is scheduled for November 6, 2013 from 12:00pm-2:00pm. The panel will discuss: Sarbanes-Oxley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act: Overview of Whistleblower Provisions; Significant Cases and Key Issues; Penalties for Non-Compliance; Guidance and Best Practices; and Latest regulatory updates. For more information, please visit here.
In several high-profile cases, federal district court judges have asserted broad authority to review the substance of agreements between government enforcement authorities and corporations to resolve investigations of alleged misconduct. This article examines this trend, reflected in decisions in the Southern and Eastern Districts of New York involving financial institutions, and in a recent decision in the District of Massachusetts which rejected proffered guilty pleas by two non-financial companies.
College athletics is big business, accounting for billions of dollars of revenues to the NCAA and its member institutions each year. As with other business organizations, the enormous profits generated through athletic programs creates pressure to win and, with it, conduct that is inconsistent with the institutional mission of colleges and universities. This article discusses the challenges faced by NCAA institutions and the lessons colleges and universities around the country can learn from corporate compliance programs.
Catherine Foti Quoted On SEC Whistleblower Programs - 10.31.2013
Morvillo Abramowitz Partner Catherine Foti was recently quoted in The BLT: The Blog of LegalTimes' "With Sixth Payout, SEC Whistleblower Program Gains Steam" on October 31, 2013. To read more from Catherine Foti on whistblowers at The Insider: White Collar Defense and Securities Enforcement blog, click here and here.
2013 marks the five-year anniversary of the financial crisis of 2008. I noted in January that this would play a significant role in white-collar enforcement and regulation in 2013, forcing the government either to act or to abandon forever certain investigations related to the crisis because of the five-year statute of limitations for enforcement actions. In addition to the looming deadline, the government has had to deal with repeated criticism of its overall response to the financial crisis, specifically what some perceive as its poor track record in obtaining criminal convictions. The government’s money laundering case against British bank HSBC serves as an example – the $1.9 billion settlement and deferred prosecution agreement (DPA) elicited cries that banks and financial institutions were perceived as “too big to jail” and prompted Congressional hearings on the subject. [...]
New Justice Department-Swiss Bank Program Announced - 10.28.2013
Continuing its efforts to crack down on undisclosed offshore accounts, the DOJ has initiated a new program for Swiss banks that meet certain criteria. Under this program, banks may apply for either non-prosecution agreements or non-target letters depending on their level of culpability. All banks that participate in the program will be required to provide information regarding the extent of their U.S.-related accounts and to cooperate with the DOJ in the future. Banks receiving non-prosecution agreements will also have to pay substantial penalties. This article discusses the implications of this program for both Swiss banks and their U.S. account holders.