Monthly Archives: March 2017
Whistleblower Wins $2.6 Million Settlement in Suit Against Bay Sleep Clinic
A whistleblower in northern California recently won a $2.6 million settlement in a lawsuit against Bay Sleep Clinic, a company that operates 20 different clinic locations throughout the northern part of the state. The settlement was officially announced December 28, 2016 by the U.S. government. In the suit, the whistleblower alleged the clinic routinely engaged […]
Whistleblower in Arkansas Settles Lawsuit for $87,500
The city of Hot Springs, Arkansas recently paid out $87,500 to settle a lawsuit filed in 2015 stemming from a case of whistleblower retaliation. The settlement terms were publicized after a local paper, the Sentinel-Record, made a request under the Arkansas Freedom of Information Act. In the lawsuit, a former employee of the city alleged […]
SEC Awards Nearly $1 Million to Whistleblower Who Provided High-Quality Tip
The U.S. Securities and Exchange Commission (SEC) announced in December that it was awarding a whistleblower with more than $900,000 for a tip that allowed the agency to bring multiple large enforcement actions against certain entities. The award marked the second in the span of a week — and the final award handed out in […]
SandRidge Energy Inc. Settles Whistleblower Retaliation Case
The U.S. Securities and Exchange Commission (SEC) recently announced that SandRidge Energy Inc., an Oklahoma City-based oil and gas company, has settled charges of illegal separation agreements and whistleblower retaliation. The company agreed to pay a fine of $1.4 million, but did not admit fault as part of the settlement. According to the SEC, SandRidge […]
Whistleblower Receives $5.5 Million Award for Providing Information to SEC
A recent corporate whistleblower who provided information to the U.S. Securities and Exchange Commission (SEC) about an ongoing fraudulent scheme targeting investors received a $5.5 million award from the agency. It marked the 38th award the agency has handed out since the program’s establishment in 2012. According to the SEC, the whistleblower was still employed […]
How to Enhance Your Company’s Due Diligence Process
Your company’s due diligence process requires a wealth of information to be effective, especially in a world in which global business has become increasingly prevalent. The following are some ways you can enhance your due diligence process: Adverse news search: Regulators suggest the inclusion of an adverse news search as part of any due diligence […]
Study Finds Benefits to Whistleblower Complaints for Corporations
A study from the University of Iowa indicates that financial wrongdoing within corporations tends to see a marked decrease after a major whistleblower complaint. Researchers looked at various companies’ financial reporting after they were involved in alleged improprieties. The data in the study was from the years 2003 to 2010. This was the first major […]
2016-2017 40th Annual Labor & Employment Law Conference
Fri, Mar 10, 2017 8:30 AM – 4:15 PM The Capital Hotel, Little Rock, AR Attend the 40th Annual Labor & Employment Law Conference and earn 6.5 CLE including 1 Ethics hour. This year’s event will cover topics of interest including: medical marijuana, an update on the 8th Circuit, retaliation, whistleblowing, changes to the I9, […]
Prudential Sued in Fake Account Scandal Involving Wells Fargo
For several months, Wells Fargo & Co. has been dealing with a fake accounts scandal that has made national news — and now the issue has extended to Prudential Financial, Inc. The company recently suspended its business operations with Wells Fargo after a whistleblower filed a lawsuit accusing the company of selling fraudulent life insurance […]
SEC Likely to Take More Enforcement Actions Against Public Companies
A recent report from the New York University Pollack Center for Law & Business and Cornerstone Research reveals enforcement actions on the part of the U.S. Securities and Exchange Commission (SEC) against public companies and their subsidiaries have increased at a faster rate than all other types of enforcement actions over the last four years. […]
