Manufacturing company Gentex agreed to a cease-and-desist order and to pay a $4 million civil penalty in a settlement with the Securities and Exchange Commission resulting from deficiencies in Gentex’s accounting for its executive and employee bonus compensation programs, the SEC announced. Charges were also brought against Gentex Chief Financial Read More
The Department of Justice’s Antitrust Division announced Feb. 3 that it has withdrawn three outdated antitrust policy statements related to enforcement in healthcare markets. The three policy statements that have been withdrawn are the Department of Justice and FTC Antitrust Enforcement Policy Statements in the Health Care Area (September 1993); Statements of Read More
The Consumer Financial Protection Bureau (CFPB) seeks public comment on a newly proposed rule that would curb “excessive” credit card late fees. According to the CFPB, “major credit card issuers continue to profit off late fees that are protected by an expansive immunity provision. Credit card companies have also relied Read More
Video game company Activision Blizzard agreed to a cease-and-desist order and to pay a $35 million penalty in a Feb. 3 settlement with the Securities and Exchange Commission resulting from disclosure control failures and violations of the SEC whistleblower protection rule, the agency announced. According to the SEC order, in Read More
In a first-of-its-kind action for violations of the Health Breach Notification Rule, telehealth and prescription drug discount provider GoodRx Holdings must pay a $1.5 million civil penalty for “failing to notify consumers and others of its unauthorized disclosures of consumers’ personal health information,” the Federal Trade Commission announced. Under a Read More
The Consumer Financial Protection Bureau (CFPB) has ordered Wells Fargo Bank to pay a total of $3.7 billion stemming from “widespread mismanagement” of its auto loans, mortgages, and deposit accounts, the CFPB announced. “Between at least 2011 and 2022, consumers were illegally assessed fees and interest charges on auto and Read More
California Attorney General Rob Bonta announced Jan. 27 that his office has begun an investigative sweep into businesses with mobile apps that are not in compliance with the California Consumer Privacy Act (CCPA). Targeted businesses have received letters. Under the CCPA, California consumers have, among other rights, the right to Read More
Financial services firms, hospitals, food service companies, and critical infrastructures were among those that were spared millions of dollars in ransom payments and remediation costs, after the Department of Justice dismantled the international ransomware group known as “Hive,” the DoJ announced on Jan. 26. Since June 2021, the Hive ransomware Read More
A whistleblower complaint filed with the Securities and Exchange Commission alleges that Brazil-based meatpacking giant, JBS Foods, engaged in greenwashing so severe it is asking the SEC to investigate it for securities fraud. Mighty Earth, an environmental advocacy group, filed the complaint. It is alleging JBS in 2021 issued $3.2 Read More
The Department of Justice and the attorneys general of eight states filed a lawsuit on Jan. 24 against Google over allegations that the search giant’s dominance in the digital advertising marketplace harms competition. In addition to the DoJ, eight states joined the lawsuit, including California, Colorado, Connecticut, New Jersey, New Read More
