The integrity of capital markets is paramount to supporting a fair and efficient financial landscape. Fraud and manipulation pose significant threats to the stability and fairness of these markets, potentially undermining investor confidence and economic growth. The U.S. Securities and Exchange Commission (SEC) is a pivotal institution in combating these issues, ensuring markets operate transparently and efficiently. The SEC's Mission The SEC was established in 1934 in response to the…
In today's digital economy, e-commerce platforms offer unparalleled convenience for consumers and expansive reach for businesses. However, the rapid growth of online shopping brings significant cybersecurity challenges. Consumers face risks such as data breaches, identity theft, and financial fraud, while businesses must navigate a complex landscape of regulations to maintain customer trust and legal compliance. By understanding and implementing key consumer protection practices, both consumers and businesses can safely navigate…
On October 4, 2024, the Supreme Court granted certiorari in a class-action lawsuit filed by employees of Cornell University (“Cornell”), alleging mismanagement of their retirement funds. The case presents an opportunity for the Court to address a Circuit split concerning the elements required to bring a “prohibited transactions” claim under ERISA. The Employee Retirement Income Security Act of 1974 (“ERISA”) is the federal law governing private industry retirement plans, with…
On September 30, 2024, U.S. District Judge Ronnie Abrams adopted the Report and Recommendation of U.S. Magistrate Judge Stewart D. Aaron, certifying two classes—Direct-Purchaser Plaintiffs and End-Payor Plaintiffs (collectively, “Plaintiffs”)—in consolidated antitrust actions against Takeda Pharmaceuticals Co. (“Takeda”). Plaintiffs accuse Takeda of unlawfully inflating the price of its diabetes treatment, Actos (pioglitazone), by delaying the entry of generic alternatives. The U.S. Food and Drug Administration (“FDA”) regulates the development and…
On September 5, 2024, Judge James K. Bredar of a Maryland federal court approved an $11.8 million settlement reached in a class action lawsuit against MedStar Health, Inc. (“MedStar”), the Board of Directors of MedStar Health, Inc. (“Board”), and the MedStar Health, Inc. Retirement Savings Plan Committee (“Committee” and collectively, “Defendants”). The settlement resolves allegations that MedStar mismanaged the MedStar Health, Inc. Retirement Savings Plan (“Plan”), to the detriment of…
Blowing the whistle on fraud in the workplace can be a challenging decision, especially when considering the potential for retaliation and financial repercussions. However, the significant impact of the individuals who come forward and file qui tam lawsuits cannot be overstated. That is why Miller Shah LLP is committed to helping clients navigate the complex statutory schemes designed to protect whistleblowers and ensure accountability and integrity. What Is a Qui…
On July 30, 2024, Chief U.S. District Judge Mitchell S. Goldberg of the Eastern District of Pennsylvania denied a request to appeal his interpretation of the Centers for Medicare and Medicaid Services' regulations from CVS Caremark Corp. ("Defendant" or "Caremark" or the "Company") in a qui tam lawsuit against the Company for falsely reporting prescription drug prices to the government in violation of the False Claims Act ("FCA"), 31 U.S.C.…
On July 16, 2024, Plaintiff Matthew Wehner filed an appellate brief in the United States Court of Appeals for the Ninth Circuit asking the Court to reverse the 2021 dismissal of his class action lawsuit against former employer Genentech, Inc. (“Genentech”) and the U.S. Roche DC Fiduciary Committee (“Committee,” and, collectively with Genentech, “Defendants”) regarding allegedly imprudent investments in the U.S. Roche 401(k) Savings Plan (the “Plan”). The Plan is…
In today’s complex employment landscape, identifying wage law violations is crucial for maintaining fair treatment and ensuring lawful compensation. Unfortunately, wage theft occurs more frequently than many realize, affecting employees in many different positions and industries. Recognizing these illegal practices is essential not only for securing owed wages but also for upholding worker rights. At Miller Shah LLP, we are committed to helping employees navigate these challenges and receive the…
Understanding your rights and how to exercise them is critical to employees navigating today's professional environment. Fortunately, there are laws and organizations, like the Equal Employment Opportunity Commission (EEOC), designed to prevent employment discrimination and retaliation against those who speak out against it. However, understanding these protections can be difficult. The knowledgeable attorneys at Miller Shah LLP are dedicated to protecting whistleblowers who report discrimination in the workplace from retaliatory…
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