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Federal fraud case: Ex-financial adviser takes criminal plea deal

From wedding to, well, penitentiary.

That is the slated outcome for one high-level financial adviser who in the recent past was a former money-managing and investment executive with a national advising and securities firm.

Pharmaceutical Antitrust Suit Survives Motion to Dismiss

Recently pharmaceutical company Fresenius Kabi USA LLC ("Fresenius") accused Par Pharmaceutical Companies, Inc. ("Par") of abusing its monopoly on an anti-diuretic drug, which increases blood pressure in patients with vasodilatory shock, by increasing prices and preventing competitors from entering the market, which violates antitrust laws. On February 10, 2017, the U.S. District Court for the District of New Jersey allowed the case to proceed by denying Par's motion to dismiss.

CKE Restaurants Class Action Signifies Shift in Administrations

According to economic theory, monopolies stifle competition by disrupting the balance between supply and demand, which creates an unfair advantage for suppliers who raise prices for consumers. Recently this theory has been applied to the labor market. When monopolies limit the amount of choices in the job market, employees have little bargaining power in their wage or income. Antitrust laws are intended to protect the economy from monopolies.

Investors in Securities Case Call for Canada's Cooperation

In 2015, investors in Silver Wheaton Corporation ("Silver Wheaton" or the "Company") filed a securities fraud class action lawsuit against the Canadian company for concealing that the Company was facing a possible $207 million tax bill. Allegedly, Silver Wheaton failed to disclose the possibility of a tax reassessment by a Canada Revenue Agency ("CRA") audit. Silver Wheaton disclosed that the CRA has accused the Company of failing to pay taxes on $560 million in taxable income from 2005 to 2010 by wrongly attributing that income to its subsidiary in the Cayman Islands, which does not tax foreign corporate profits. Investors allege the Company and its officials knew or should have known about the potential tax liabilities, and illegally hid the Company's true financial information in order to inflate stock prices.

For Volkswagen, the product liability woes continue

Truly, it must seem to global auto manufacturer Volkswagen that it is under a perpetual rain cloud. As noted in a recent article discussing just the latest of the German company's problems, Volkswagen's troubles "would appear to be endless."

And of a vast magnitude.

U.S. Senator: Why is DOL Wells Fargo website now offline?

It's hard to imagine a bank -- candidly, any business in the United States, regardless of industry -- suffering through a tougher year than Wells Fargo did in 2016.

Many of our readers know the material details -- some, perhaps, because of personally painful experiences suffered through their interactions with the bank -- linked with evidence confirming that official bank policy stressed defrauding legions of customers by signing them up for multiple accounts without their knowledge, and charging them related fees in the process.

Amazon Again Faces Joint Employer Liability

Over a year ago, we discussed the settlement that occurred between a class of warehouse workers in California and two joint employers, SMX LLC and Amazon.com LLC ("Amazon"). Last November, Amazon was notified of another joint-employer suit, along with Silverstar Ltd. ("Silverstar") and Gold Standard Transportation Inc. ("Gold Standard").

Shored-up anti-scam bill seeking to protect seniors introduced

We all know that there is no dearth of con artists working hard in unscrupulous businesses and industries across the country, seeking to take the hard-earned money -- indeed, the life savings -- of victims who are not constantly on guard against consumer fraud.

Candidly, being unceasingly vigilant against the machinations of individuals and companies whose very business model is to prey upon and rip off the public is a tiring task. Constantly evolving technologies and ever-sophisticated fraud schemes have essentially put a collective bulls-eye on the back of all Americans.

It Just Seemed Forever: Halliburton Settles Securities Fraud Case

Although it might have reasonably seemed to many plaintiffs involved in a tough and protracted litigation battle that their lawsuit alleging wrongdoing on the part of a major global company would never end, it finally did.

Late last month, in fact, when Texas oil field services behemoth Halliburton suddenly stepped forward to agree with the terms of a settlement that many people did not remotely see as being on the horizon.

Volkswagen Settles with Dealerships over Emissions Scandal for $1.6 Billion

Last October, we discussed Volkswagen's (the "Company") $14.7 billion settlement for car owners of VW and Audi 2-liter diesel vehicles that were affected by the emissions scandal. On January 23, 2017, the Company paid an additional $1.6 billion to resolve lawsuits filed by Volkswagen AG franchise dealerships ("Dealers").