By Steve Kardell | Published October 29, 2020 | Posted in Fraud | Tagged Tags: defrauded investors, financial fraud, Securities and Exchange Commission, Veriet | Comments Off on Vereit Settles SEC Fraud Case to Tune of $8 Million
Vereit Settles SEC Fraud Case to Tune of $8 Million
The United States Securities and Exchange Commission (SEC) recently charged Vereit, Inc. (previously known as American Realty Capital Properties, Inc.) with intentionally overstating important performance metrics, a form of fraud. As a result, Vereit agreed to settle the charges by paying an $8 million penalty, which will be shared among defrauded investors. Case background According Read More
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Department of Labor Ceases Automatically Seeking Double Damages in Settlements for FLSA Cases
As of July 1, the United States Department of Labor is no longer automatically seeking double damages in settlements with employers believed to have violated the Fair Labor Standards Act (FLSA). There were shifts in FLSA settlement standards this year in response to the spread of the COVID-19 pandemic. An executive order from President Trump Read More
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A Candid Discussion on the Effects of COVID-19 on Employment Law
In an interview on Law.com, Whistleblower As a result of being on the other side of many disputes with Littler, I was aware of their multi-functional knowledge base, for both client counseling and litigation. Covid-19 has obviously upended all facets of employment law. I sat down with Harry Jones, a Littler partner who is helping Read More
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Former CFO of Tenet Healthcare Subsidiary Files Lawsuit Alleging Whistleblower Retaliation
Jason Cagle, the former CFO of United Surgical Partners International (a subsidiary of Tenet Healthcare in Dallas), filed a lawsuit against his former employer alleging whistleblower retaliation. Cagle had worked for USPI since 2001 and took his position as CFO in January 2013. Tenet bought out USPI in 2015 and owned 95 percent of its Read More
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SEC Issues $125,000 Award to Whistleblower
The United States Securities and Exchange Commission announced an award of $125,000 in June to a whistleblower who went through the SEC’s whistleblower program to report wrongdoing. According to SEC representatives, the whistleblower’s information and assistance helped the SEC and another agency it was working with on the case bring a successful enforcement action against Read More
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Whistleblower Claims TSA Worsened the COVID-19 Pandemic
A whistleblower who works for the Transportation Security Administration (TSA) alleged the TSA failed to implement appropriate early safety measures during the COVID-19 pandemic, despite repeated pleas from employees. As a result, it played a role in worsening the pandemic’s outbreak in the United States. The Office of Special Counsel has now requested the Department Read More
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Whistleblower Lawsuit Alleges Department of Education Purposefully Shut Down Loan Forgiveness Process
An official from the United States Department of Education filed a whistleblower complaint earlier this year, stating the Trump Administration and the department under Secretary Betsy DeVos purposefully made it more difficult for people with student loans to apply for federal loan forgiveness. The Borrower Defense to Repayment program was initially implemented by the Obama Read More
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Aveta Settles Suit Alleging it Defrauded Medicare of $1 Billion
Josh Valdez, a former executive for a subsidiary of Aveta Inc., sued the company, claiming it had spent years engaged in a scheme to defraud Medicare of hundreds of millions of dollars. The lawsuit was originally filed in April 2011, but was under court seal until early 2014 and went through an extensive court process Read More
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Woman Files $100 Million Sexual Harassment Suit Against Schlumberger
A former employee of Schlumberger, one of the largest names in oil field services, filed a $100 million lawsuit against the company alleging sexual harassment. According to Sara Saidman, the plaintiff, a male coworker told others at the company that they should break into her bedroom to sexually assault her, and that they should ignore Read More
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Lawsuit Alleges CEO Misappropriated PPP Funding
The federal Paycheck Protection Program (PPP) was implemented as a response to the COVID-19 pandemic, providing small businesses with some federal funding to keep workers employed during the tough financial times caused by the virus. All money from that program was required to be used for business purposes only. However, there have been a variety Read More
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