On June 18, 2019, the Federal Trade Commission will hold a public workshop in Washington, DC to assess the impact of certificates of public advantage (“COPAs”) on prices, quality, access, and innovation for healthcare services. This workshop is part of a broader COPA Assessment Project announced in November 2017, when staff issued a request for empirical […]
Monthly Archives: April 2019
Arif M. Naqvi and Abraaj Investment Management Limited
Litigation Release No. 24449 / April 11, 2019 Securities and Exchange Commission v. Arif M. Naqvi and Abraaj Investment Management Limited, No. 1:19-cv-03244 (S.D.N.Y. filed April 11, 2019) The Securities and Exchange Commission today charged Arif M. Naqvi and Abraaj Investment Management Limited, a Dubai-based investment advisory firm, with misappropriating funds from a private equity […]
Payment Processor and Owner Agree to Permanent Payment Processing Ban and $1.8 Million Judgment to Settle FTC Charges They Violated 2009 Order
Thomas Wells and his payment processing company, Priority Payout Corp., have agreed to settle FTC charges that they repeatedly violated a 2009 court order issued against them. The settlement permanently bans Wells and Priority Payout Corp. from engaging in, and assisting others with, payment processing, and includes a $1.8 million contempt judgment against them. The […]
FTC Hearings on Competition and Consumer Protection in the 21st Century Continue with a Discussion of Merger Retrospectives
What: The Federal Trade Commission will host the 13th session of its Hearings on Competition and Consumer Protection in the 21st Century. When: Friday, April 12, 9:00 a.m. – 5:15 p.m. Where: FTC Headquarters600 Pennsylvania Avenue, NW, Washington, DC 20580Room 432 Who: The hearings will feature opening remarks by FTC Chairman Joe Simons and further […]
At FTC’s Request, Court Permanently Stops A-1 Janitorial Office Supply Scam
At the Federal Trade Commission’s request, a U.S. district court judge permanently halted a New York-based office supply scam operated by a business known as A-1 Janitorial. In late 2017, the FTC charged the defendants with targeting small businesses and charging them for supposedly free samples of cleaning and other products. Under the court order […]
Paul Bannon Powers
Litigation Release No. 24448 / April 10, 2019 Securities and Exchange Commission v. Paul Bannon Powers, No. 6:19-cv-00664 (M.D. Fla. Filed April 9, 2019) The Securities and Exchange Commission charged a former senior lawyer at SeaWorld Entertainment Inc. (Sea World) with insider trading based on nonpublic information that the company’s revenue would be better than […]
Gonzalo Ortiz
Litigation Release No. 24447 / April 10, 2019 Securities and Exchange Commission v. Gonzalo Ortiz, Civil Action No. 19-cv-2066 (S.D.N.Y., filed April 9, 2019) The Securities and Exchange Commission filed a civil injunctive action, charging a New Jersey resident with defrauding an investor by lying about his trading success, concealing trading losses, and misappropriating funds. […]
Geniux Dietary Supplement Sellers Barred from Unsupported Cognitive Improvement Claims
Twelve corporate and four individual defendants have settled Federal Trade Commission charges that they deceptively marketed “cognitive improvement” supplements using sham news websites containing false and unsubstantiated efficacy claims, references to non-existent clinical studies, and fraudulent consumer and celebrity endorsements. The FTC also alleged that the defendants used affiliate marketers to make deceptive claims about […]
FTC Requires Divestitures by Tronox and Cristal, Suppliers of Widely Used White Pigment, Settling Litigation over Proposed Merger
Tronox Limited and Cristal, two of the largest suppliers of the white pigment chloride process titanium dioxide, have agreed to settle Federal Trade Commission charges by divesting Cristal’s North American titanium dioxide assets, thereby preserving competition in the market for this important and widely used compound. The settlement comes after the FTC won key victories […]
Bevil et al., Duke et al., Duncan, Saccomanno et al.
The Securities and Exchange Commission charged fifteen individuals with acting as unregistered brokers or aiding-and-abetting such activity in connection with Intertech Solutions, Inc.’s fraudulent and unregistered securities offerings. The SEC’s complaints allege that Alexander Bevil, Richard Bohnsack, Daniel Broyles, Charles Davis, Michael Duke, Joel Duncan, Martin Lewis, Mark Parman, William Roth, Paula Saccomanno, Kenneth Shelton, […]