German software company SAP will pay more than $220 million to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission into violations of the Foreign Corrupt Practices Act (FCPA). The SEC found that SAP violated the FCPA by paying bribes to foreign officials in South Read More
The Securities and Exchange Commission has voted to approve the listing and trading of bitcoin exchange-traded funds (ETFs), opening the door to several new publicly traded funds that track various cryptocurrencies. The SEC’s decision will make bitcoin investing more accessible to investors, without requiring them to own the digital asset Read More
The Federal Trade Commission (FTC) has prohibited data broker X-Mode Social and its successor Outlogic from sharing or selling sensitive location data as part of a settlement resulting from allegations that the company sold precise location data that could be used to track people’s visits to private locations. In its Read More
Walgreens has agreed to pay $360 million to insurance company Humana to settle a lawsuit claiming that the retail pharmacy chain overcharged for prescription drug reimbursements. In 2019, Humana brought a lawsuit against Walgreens arguing that the company had overcharged its customers by inflating medication prices for over ten years. Read More
Starting next week, the state of Ohio will require social media platforms to obtain parental consent before a child under the age of sixteen creates an account on their websites. However, an association by the name of NetChoice is now challenging this law on the belief that it violates the Read More
A non-profit cancer treatment center based in Tampa, Florida has agreed to a settlement with the Department of Justice to resolve charges of False Claims Act violations. The violations result from improper claims submitted to federal healthcare programs for patient care services that were not eligible for reimbursement. The DoJ Read More
Last month, President Biden signed the annual defense spending bill for 2024, otherwise known as National Defense Authorization Act (NDAA), into law. Contained in the NDAA is a provision titled the Foreign Extortion Prevention Act (FEPA), which for the first time makes it a crime for foreign officials or other Read More
The New York Times Co. filed a lawsuit against two of the largest artificial intelligence companies, Microsoft and OpenAI, for copyright infringement. In its complaint, the Times said that Microsoft and OpenAI illegally copied and used millions of its articles to inform and enhance each company’s AI models including OpenAI’s Read More
The New York State Department of Financial Services (NYDFS) has issued guidance on managing the financial and operational risks associated with climate change. The guidance applies to New York regulated banks, mortgage bankers, and mortgage servicers, as well as branches and agencies of foreign banks licensed in New York. It Read More
