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Business Crimes Hotline
SEC Settles First Stand-Alone Whistleblower Retaliation Case
On Sept. 29, 2016, the Securities and Exchange Commission (SEC) announced that International Game Technology (IGT), a casino gaming design and production company, had agreed to pay a $500,000 civil monetary penalty to settle charges that it had unlawfully terminated an employee whistleblower. The matter is the first stand-alone whistleblower retaliation case resolved by the SEC pursuant to Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act's whistleblower protection provision, which grants the SEC authority to bring enforcement actions against companies that retaliate against whistleblowers. See generally Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities and Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order in the Matter of International Game Technology (Sept. 29, 2016).
According to the SEC, in 2013, the unnamed IGT whistleblower discovered that the company had repeatedly inflated the costs of one of its business segments in accounting statements. The whistleblower reported the problem to his supervisor and to IGT senior management on several occasions in late 2013 and early 2014. The whistleblower also later notified the SEC of his findings. The company opened an internal investigation into the alleged accounting inconsistencies, but ultimately concluded that the whistleblower's claims were unsubstantiated.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
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Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?