SEC Whistleblowers in Line for Windfall, and FTC Probes Amazon: Roundup
Welcome back to our weekly roundup of regulatory and compliance news. I’m C. Ryan Barber, reporting from the 100-degree swamp that is D.C. Got tips…
July 21, 2017 at 03:49 PM
5 minute read
The original version of this story was published on Law.com
Welcome back to our weekly roundup of regulatory and compliance news. I'm C. Ryan Barber, reporting from the 100-degree swamp that is D.C. Got tips or suggestions? Reach me at [email protected] or at 202-828-0315. DM me at @cryanbarber.
The Trump administration is touting the number of federal regulations that are on the chopping block, The New York Times reports. Agency officials have withdrawn or blocked hundreds of regulations. [The Washington Post]
A pair of whistleblowers are set to share a record $61 million bounty from the U.S. Securities and Exchange Commission for helping to show that JPMorgan Chase & Co. failed to disclose that it was directing wealthy clients into investments that would be most profitable for the bank. One of the whistleblowers will receive an award amounting to 18 percent of the SEC's $307 million settlement with JPMorgan, while the other tipster will receive 5 percent. [Bloomberg]
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Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
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Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
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David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
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Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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