Monthly Archive: July 2015

Jul 23

Another Whistleblower Gets Multi-Millions

The Securities & Exchange Commission (“SEC”) has announced an approximately $3 million whistleblower award to an unnamed company insider who provided information to the SEC regarding a complex fraud that would otherwise been difficult to uncover. Whistleblowers who provide the SEC such information are eligible for awards of 10 to 30 percent of the money …

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Permanent link to this article: http://betweenthenumbers.net/2015/07/another-whistleblower-gets-multi-millions/

Jul 22

Ninth Circuit Invites More Qui Tam Cases

The US Court of Appeals for the Ninth Circuit has opened the door significantly wider for those who wish to pursue qui tam False Claims Act suits by reversing a dismissal of two such matters.  Ruling en banc in United States ex rel. Hartpence v. Kinetic Concepts, Inc., the Ninth Circuit has removed a prior …

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Permanent link to this article: http://betweenthenumbers.net/2015/07/ninth-circuit-invites-more-qui-tam-cases/

Jul 20

SEC Utilizes Big Data And Statistics To Target Trading Fraud

The Securities and Exchange Commission recently announced its first fraud charges derived from tracking behavior using data analytics of large volumes of investment advisors’ trade allocation detail.  The enforcement target is Welhouse & Associates Inc. and its owner Mark P. Welhouse. Mr. Welhouse is accused of “cherry-picking”, a practice whereby one improperly allocates option trades …

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Permanent link to this article: http://betweenthenumbers.net/2015/07/sec-utilizes-big-data-and-statistics-to-target-trading-fraud/

Jul 14

Damage Award Aims to Curtail Future Transgressions

According to USA Today’s July 8, 2015 article, a woman was awarded a damages of $229,500 for being harassed by Time Warner Cable. The cable company solicited Araceli King with 153 robocalls despite her complaints and direct requests to cease and desist. Judge Alvin Hellerstein of the Manhattan federal court decided to triple the typical …

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Permanent link to this article: http://betweenthenumbers.net/2015/07/damage-award-aims-to-curtail-future-transgressions/