The U.S. House of Representatives on Thursday approved banking reforms in the Financial CHOICE Act of 2017 that would, if adopted, "gut many of the key banking reforms implemented after the financial crisis" according to a CNBC article. Apart from the overall impact on the Dodd-Frank Act, the law makes an important change to the SEC whistleblower program which...
The Trump Administration's budget proposal for 2018 includes another attempt to pass tort reform for medical malpractice lawsuits. We strongly oppose this effort to weaken compensation for injury victims and urge you to inform your elected representatives that you do not support it. The proposal includes a $250,000 cap on noneconomic damages. This means that if are injured as a...
The CFTC has issued final rules based on its previously proposed changes to the CFTC whistleblower program. The changes have left the core of the program intact while strengthening the whistleblower retaliation protections, harmonizing the rules with the SEC program and adding transparency to the process for reward claims. McEldrew Young was one of two law firms to comment on...
A new study in the Journal of the American Medical Association has found that almost one-third of new drugs in the United States have a significant safety issue in the first decade after FDA approval.  This is a very concerning but not unexpected analysis as our lawyers have worked with many patients harmed by inadequately disclosed drug and medical...
Last month, the SEC warned investors about companies using fake news to drive up stock prices. In conjunction with this warning, the SEC charged 27 public companies, firms and writers with fraud for failing to disclose paid promotion, using multiple pseudonyms for publications about the same stock and/or using fake credentials. Just over half (17) reached settlements of up...
Attorney General Jeff Sessions reaffirmed the Justice Department's commitment to enforce the Foreign Corrupt Practices Act spoke last Monday in a speech at the Ethics and Compliance Initiative Annual Conference. Statements by President Trump before running for office ridiculing the anti-bribery law had put the administration's enthusiasm for enforcing the law into doubt. According to Sessions, "We will continue to...
Last spring was a pretty busy time for whistleblower news at McEldrew Young.  It has been the same this year! McEldrew Young received a positive decision for our clients on Pfizer's motion to dismiss the second amended complaint in the Eastern District of Pennsylvania over Vfend, an azole antifungal agent. The Defendants raised argument on some of the leading areas...
Like much of America, we have been following the story of Wells Fargo's sales tactics and the government response to it. We haven't discussed this matter in depth yet here on our blog (just a brief comment about its implications for whistleblower retaliation), so I thought we would discuss it following the media reports that the Feds knew...
The Securities and Exchange Commission defended its ability to disgorge illegal profits from wrongdoers before the Supreme Court yesterday in Kokesh v. SEC. It was Justice Neil Gorsuch's second day of oral arguments.  An opinion is expected by the end of the term in July. The case is now focused on the question of how long the SEC can seek...
President Trump is signing an executive order today to implement a more muscular Buy American Act. This measure likely signals strengthened enforcement of the Buy American Act under the False Claims Act. The Buy American Act is a domestic preference procurement program. It gives favorable treatment to contractors that are completing the project with goods Made in the United States....
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