Thursday, May 13, 2021
Introduction: The Role of the SEC
The U.S. Securities and Exchange Commission (SEC) is a federal agency whose mission is to “protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.” Its daily functions include facilitating market transactions in a way that enhances public confidence, protecting investors from unscrupulous conduct that could cause them financial injury, and protecting capital markets.
The SEC takes violations of the federal securities laws very seriously. Most violations come to the attention of the SEC via tips, whistleblower complaints, or irregularities in public filings. SEC investigations and litigations can lead to a variety of sanctions including disgorgement of illegally-obtained profits, pre-judgment interest, permanent injunctions, civil penalties, loss of license, reputational harm, and if the Department of Justice is also involved criminal penalties and jail time.
Seven women will file a federal lawsuit against LSU, the Tiger Athletic Foundation (TAF) and several University administrators, The Advocate reported on Monday. Â
The women accuse LSU of prioritizing its reputation and football program above their safety and discouraging student victims from reporting Title IX offenses. They allege that the university retaliated against students when they did report.Â
The plaintiffs also allege that LSU violated the Racketeer Influenced and Corrupt Organizations Act (RICO), the federal law used to prosecute organized crime syndicates. For years, LSU and the Tiger Athletic Foundation have ignored known systemic issues in LSUâs response to reports of sexual misconduct in favor of promoting and glorifying LSU student-athletes and coaches to reap the financial and reputational benefits of a venerated college football program, the lawsuit reads.
The Ninth Circuit declined to revive Racketeer Influenced and Corrupt Organizations Act claims from Nooksack Indian Tribe members alleging tribal officials conspired to disenroll them, ruling that the federal government's recognition of tribal leadership deprived the court of jurisdiction.
May 6, 2021 1:29pm
A case filed in federal court last week alleges the former executives embezzled millions with the support of the hospital s then-president and chairman. They were also accused of returning millions in pandemic relief funds to avoid a government audit. (Getty/eccolo74)
Kansas Heart Hospital has filed a lawsuit against two former executives it alleges stole almost $7 million in unauthorized compensation and blocked more than $4 million in CARES Act relief from reaching the hospital.
The case was filed last week in Kansas’ U.S. District Court and names former Chief Financial Officer Steve Smith and former Chief Operating Officer Joyce Heismeyer as the defendants.
Health
your username
6 hours ago
Last Friday, an Eastern District of Pennsylvania court dismissed Hayriye Beril Gok’s claims in two business tort and antitrust lawsuits, derivative of an initial sexual harassment suit filed by the plaintiff. The opinion, dismissing the federal claims with prejudice, for now concludes the cases stemming from what the plaintiff contended was her illegal termination from the medical residency program at Mercy Catholic Medical Center (Mercy) in 2015.
The court explained that in the plaintiff’s first case, the hospital secured summary judgment after the plaintiff twice appealed to the Third Circuit. “It is important that Plaintiff’s current claims stem from perceived wrongdoings throughout that litigation,” the court wrote.