Deutsche Bank pays $130 million to settle SEC DOJ investigation into foreign bribes and manipulation of commodities markets

  Deutsche Bank Aktiengesellschaft (Deutsche Bank or the Company) has agreed to pay more than $130 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) and a separate investigation into a commodities fraud scheme. According to admissions and court documents, between 2009 and 2016, Deutsche Bank, acting through its […]

Continue reading…

Prudential subsidiary Pruco Securities settles SEC case for $18.3 million on allegations of breach of fiduciary duty on mutual fund selections

Prudential subsidiary Pruco Securities will pay approx$18.3 million to settle an SEC investigation concerning alleged breaches of its fiduciary duty related to the firm’s mutual fund share class selection and wrap fee programs. The SEC says that Pruco, a registered investment adviser and broker-dealer, recommended clients buy and hold mutual fund share classes paying 12b-1 […]

Continue reading…

DOJ sues Walmart nationwide for dispensing controlled substances to pharmacies through prescription opioid crisis

The Department of Justice has filed a nation-wide lawsuit against Walmart unlawfully dispensed controlled substances from pharmacies it operated across the country and unlawfully distributed controlled substances to those pharmacies throughout the height of the prescription opioid crisis. The complaint alleges that this unlawful conduct resulted in hundreds of thousands of violations of the Controlled […]

Continue reading…

Texas Heart Hospital pays $48 million to settle kickbacks case with Department of Justice and MD Whistleblowers to get $13.920 million

Texas Heart Hospital of the Southwest LLP, a partially physician-owned hospital in Plano, Texas, and its wholly owned subsidiary, THHBP Management Company LLC (collectively, the “Heart Hospital”) have agreed to pay the United States $48 million to resolve claims that the Heart Hospital violated the False Claims Act by knowingly submitting claims to the Medicare […]

Continue reading…

Robinhood pays $65 million to settle charges over omissions in statements about selling customer order info to trading firms for big money

  The SEC says that between 2015 and 2018, the brokerage company Robinhood made misleading  omissions about routing customer orders, known as “payments for order flow,” which constituted its largest source of income. The SEC says that because the firm received “unusually high payment for order flow rates,” customers’ orders were executed at worse prices […]

Continue reading…

SEC awards more than $300,000 to a whistleblower with auditing responsibillities

The Securities and Exchange Commission awarded more than $300,000 to a whistleblower with auditing responsibilities who helped lead to the successful enforcement of SEC and related actions. The whistleblower learned of  securities law violations in connection with their audit responsibilities. Individuals with audit or compliance responsibilities are usually not eligible for such SEC awards, but […]

Continue reading…

GE to pay $200 million to settle SEC investigation over disclosure issues in its gas-turbine and insurance programs

General Electric will $200 million penalty to settle federal claims that it misled investors by failing to disclose problems in its gas-turbine power and insurance businesses. GE recognized some costs and profits,  misrepresenting how its power segment was making money. It also failed to inform investors of the risk in its legacy insurance portfolio. That […]

Continue reading…

BlueCrest Capital Management hedge fund to pay $170 million to settle SEC charges for failure to disclose internal investment fund

BlueCrest Capital Management hedge Fund will pay $170 million to settle with the U.S. Securities and Exchange Commission over charges that it misled clients about an internal fund used to invest company insiders’ wealth, which was managed by the firm’s best traders, the SEC said Tuesday. The Securities and Exchange Commission said that the investigation […]

Continue reading…